While much of the world anxiously waits to see if their economies will tip into a recession next year, the United Kingdom may already be in the midst of one. The economy shrank 0.3 per cent between July and September, in what Bank of England forecasts say is the start of a “prolonged period” of negative growth that … Read more
The findings are more pessimistic than the latest forecast from the International Monetary Fund. The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research.The global economy surpassed $100 trillion for the first time in 2022 … Read more
Stocks fell Thursday after economic data pointed to a strong labor market and faster economic growth than previously thought. The S&P 500 tumbled 56.05 points, or 1.4%, to close at 3822.39. The Dow Jones Industrial Average fell 348.99 points, or 1%, to 33027.49. The technology-focused Nasdaq Composite lost 233.25 points, or 2.2%, to close at … Read more
A stock-market paradox, in which bad news about the economy is seen as good news for equities, may have run its course. If so, investors should expect bad news to be bad news for stocks heading into the new year — and there may be plenty of it. But first, why would good news be … Read more
‘It’s going to get worse’: Sir John Key unveils 2023 economic predictions | AM Newshub NZ’s economy: What lies ahead – inside the experts’ minds New Zealand Herald Economists sharply mark down their view of the NZ economy – in three years’ time Interest.co.nz Sir John Key’s predicted mortgage rates could spell ‘unwinnable election’ for Labour, Patrick Gower … Read more
New York CNN — Treasury Secretary Janet Yellen is striking a cautiously optimistic tone about 2023, predicting a major inflation cooldown and stressing that a recession isn’t required to get prices back under control. “I believe by the end of next year you will see much lower inflation, if there’s not an unanticipated shock,” Yellen … Read more
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN — The Federal Reserve is all but guaranteed to announce Wednesday that it will once again raise interest rates. But investors are hopeful it will be a smaller increase than … Read more
Alan Blinder, A monetary and fiscal history of the United States, 1961–2021, Princeton University Press Published, Oct 2022 (US), 432 pages Macroeconomists are rarely praised for their clarity and eloquence. Yet there has been one consistent contemporary exception to the rule: the inimitable Princeton economics professor and former vice-chair of the Federal Reserve, Alan Blinder. … Read more
Recession fears overblown? Bank of America CEO makes a prediction Fox Business Jamie Dimon says inflation eroding consumer wealth may cause recession next year CNBC U.S banks warn of recession risk, inflation hurting consumers, shares hit Yahoo Finance S&P 500 could plunge 20% in coming months as recession hits, BofA warns Fox Business View Full Coverage on Google News
The November U.S. jobs report on Friday showed the U.S. economy gained 261,000 jobs last month, with the unemployment rate holding steady at 3.7%. Economists polled by the Wall Street Journal had expected an addition of 200,000 jobs. Wages jumped 0.6% in November, double the expected pace. Below are some initial reactions from economists and … Read more