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Treasury Secretary Janet Yellen said the United States economy is in a “new phase” of “recovery” and insisted household finances for Americans remain in good shape.
President Biden said it’s “no surprise” that the economy is slowing down as the Bureau of Economic Analysis reported that GDP had fallen 0.9% in the second quarter meeting a widely held standard for a recession.
Nouriel Roubini, the famed economist whose dire predictions of the 2008 financial crash ultimately came true, is advising that the U.S. economy is about to get hit with a severe recession.
CNN editor-at-large Chris Cillizza mocked the White House for their attempted spin on the definition of a recession, saying it had him “laughing to myself.”
A Bloomberg monthly survey of economists indicates nearly 50% believe the United States economy is headed toward a recession within the next year.
As if day-to-day living expenses weren’t depressing enough, a quick peek at your 401(k) statements might prove to be too much. A new report indicates the stock market decline in 2022 has led to retirement savings accounts having lost upwards of $3.4 trillion.
While Americans struggle daily with inflation, and high gas and food prices, economists at investment firm Morgan Stanley added one more thing to the list.
Wall Street titan Jamie Dimon is warning of a looming economic “hurricane” due to monetary policies by the Federal Reserve and rising gas and commodity prices.
Business leaders say the U.S. already is in a recession or is heading into one after the Federal Reserve increased interest rates twice already.
The Dallas Federal Reserve is warning that ongoing sanctions against Russia will lead to a global recession.
Representative Madison Cawthorn (R-NC) warned that President Joe Biden’s tax hikes will “lead to a recession.”
Around this time last year, then-President Donald Trump had hoped to re-open society from COVID lockdowns in time to celebrate Easter.