Investors raise the odds of a 50-basis point Fed rate cut in September
Jeff Sica of Circle Squared Alternative Investments weighed in on the market sell-off, arguing that the problem lies in the credit markets. Concerns about an impending recession have led some Wall Street economists to Federal Reserve It is likely to approve an unusually large interest rate cut at its next policy meeting in September. A […]
Legendary market watcher predicts surprise Fed rate cut
Robert Prechter, author of The Socio-Economic Theory of Finance, analyzes today’s economic environment in Cavuto: Coast to Coast. Renowned financial analyst Robert Prechter expects the Federal Reserve to take the extraordinary step of issuing an emergency interest rate cut ahead of its September meeting after markets suffered a broad-based sell-off globally on Monday. Prechter, founder […]
Fed will ‘fix’ the US economy if it deteriorates, Goolsbee says
Jeff Sica of Circle Squared Alternative Investments weighed in on the market sell-off, arguing that the problem lies in the credit markets. Chicago Fed President Austen Goolsbee said Monday that central bank policymakers will respond to the weakness in the economy. U.S. Economy Fears of a recession resurfaced, leading to widespread selling across the market. […]
Man in Chicago McDonald’s accused of attacking 3 with ‘hatchet-like weapon’ after demanding free food
Two violent incidents occurred at separate restaurants in Chicago, Illinois over the weekend. Three people were injured at a McDonald’s after a gunman was denied a free meal. Photo credit: FOX 32 Chicago Chicago police are searching for a man who allegedly attacked three people with “an axe-like object” after a McDonald’s cashier refused him […]
Japanese stocks plunge in largest rout since 1987’s Black Monday
Travel expert Lee Abbamonte appears on “The Big Money Show” to discuss Americans traveling to other countries where the dollar is worth more. Japanese stocks recorded their biggest one-day drop since Black Monday in 1987. The Nikkei stock average fell 12.4% on Monday, its worst drop since the October 1987 crash. The banking sector led […]
Elon Musk says the Federal Reserve is ‘foolish’ for waiting to cut interest rates
Washington Post Op-ed and columnist Heather Long discusses the Federal Reserve’s managed interest rate cuts and the impact of July’s jobs report. Billionaire Elon Musk The Federal Reserve said Sunday it was “foolish” for not cutting interest rates sooner after a disappointing jobs report that raised concerns about an economic slowdown. “The Fed needs to […]
Goldman Sachs economists raise ‘limited’ risk of US recession to 25% chance: report
Art Hogan, chief market strategist at B. Riley Wealth Management, talks to “Making Money” about how investors can make money in volatile markets. The economists Goldman Sachs The report raised the chance that the U.S. economy will fall into recession within the next 12 months to 25% from 15%, but maintained that the risk of […]
July jobs report breakdown: Which industries hired the most workers?
Olu Omodunbi, chief economist at Huntington Private Bank, said on “The Craman Countdown” that the jobs report points to a slowdown in the labor market. Job growth slowed in July as many industries, including manufacturing, retail and trade, cut jobs. Employer Added 114,000 jobs added in JulyThe Labor Department said in its monthly payroll report […]
A closely tracked recession signal just got triggered by the July jobs report
Economist Peter Morici criticized the Biden administration’s economic policies, discussing tax cuts on Social Security benefits that former President Trump promoted during his election campaign. Weaker than expected July employment report A reliable recession indicator The policy, closely watched by Wall Street, has rekindled concerns about the health of the U.S. economy and triggered a […]
US job growth slows to 114K in July while unemployment unexpectedly jumps
Construction is booming in states such as Arizona, California, Florida and Texas. U.S. job growth slowed sharply in July and the unemployment rate unexpectedly rose to its highest level in nearly three years. The Labor Department said on Friday that employers 114,000 jobs The number of people employed in July rose by 15,000 year-on-year, short […]