Bank of America CEO says research team 'does not have any recession predicted anymore'
Bank of America CEO Brian Moynihan said the financial giant no longer sees a recession approaching for the U.S. economy, suggesting the Biden administration and the Federal Reserve have achieved a “soft landing” after inflationary problems in recent years. Moynihan told CBS’ Margaret Brennan on “Face the Nation” on Sunday that although the economy is […]
Jobless claims fall more than expected to ease recession fears
The number of Americans filing initial claims for unemployment benefits fell more than expected last week, easing fears of a labor market collapse that had sent markets plummeting. The Labor Department said on Thursday that seasonally adjusted claims for unemployment insurance fell by 17,000 to 233,000 for the week ended Aug. 3, the biggest decline […]
Wholesale Inventories Rose in June, Soothing Recession Worries
U.S. wholesale inventories rose in June, driven by a second consecutive month of strong growth in auto and truck inventories. The Commerce Department said Thursday that wholesale inventories rose 0.2%, in line with economists’ expectations and the government’s preliminary estimate. Inventories increased 0.5% in May. Year-over-year wholesale inventories increased 0.1%. The economy grew at an […]
Economist signals a ‘reckoning’ looming over markets, America has been in recession ‘a long time’
As a turbulent week for stock markets draws to a close, one US economist has warned that this could just be the beginning of a “liquidation”. “There’s a lot of pain ahead for both the economy and for the markets, which have really been laggards, like the Fed,” MacroMarvens President Stephanie Pomboy said on “Mornings […]
Dow jumps 600 points, S&P and Nasdaq roar higher as recession fears ease
In “Cavuto: Coast to Coast,” former St. Louis Federal Reserve Bank President and CEO James Bullard discusses whether central banks should worry about how markets will react to their decisions. U.S. stocks rose on Thursday as new jobless claims figures eased investor fears of an imminent economic downturn, providing some cheer to a turbulent week […]
JPMorgan boosts odds of a US recession this year to 35%
Claudia Thurm, chief economist at New Century Advisors, talks to “Varney & Company” about the Fed’s next interest rate move. JPMorgan Chase analysts said U.S. Economy The economy will be in recession by the end of the year. In an analyst note on Wednesday, JPMorgan economists led by Bruce Kassman raised the chance of a […]
Jobless Claims Decrease More Than Estimated To Calm Recession Fears For Now
(Photo by Mario Tama/Getty Images) By James Myers, OAN StaffThursday, August 8, 2024 8:20 a.m. The number of Americans filing new claims for unemployment benefits last week fell more than expected, easing fears for now about a labor market collapse. advertisement The Labor Department said Thursday that jobless claims for the week ending Aug. 3 […]
Jesse Watters: Kamala Harris caused the looming recession
On “Jesse Watters Primetime,” Fox News host Jesse Watters criticized Vice President Kamala Harris and President Biden’s economic policies for contributing to recession fears and the market sell-off on Monday. Jesse Waters: “The stock market is crashing. The jobs numbers are awful. We’re heading for World War III. We have two of the most incompetent […]
Bitcoin, crypto shares plunge as investors pull back on risky stocks amid fears of recession
Bitcoin and U.S. cryptocurrency stocks fell sharply on Monday along with the rest of the stock market as weak jobs data and the Fed’s decision to hold off on cutting interest rates stoked fears of a U.S. economic recession. Bitcoin prices have fallen more than 15% over the past five days, dropping below $55,000 to […]
Biden-Harris Economic Aide Leaves for Campaign as Stocks Plunge, Recession Fear Takes Hold
Gene Sperling, a senior Biden-Harris economic adviser, left the White House on Monday for a campaign trip, the same day that U.S. stocks plummeted and fears of an economic recession became apparent. Sparring is departure Sperling will become a senior economic adviser to Harris’ presidential campaign policy team. He served under Presidents Bill Clinton and […]