As the American economy continues to struggle with high inflation and weak economic growth, concerns about the country slipping into a stagflation are popping up. Stagflation is an economic cycle marked by slow GDP growth, high inflation, and high unemployment rate. Policymakers usually find it difficult to handle such a situation because any attempt to…
ANALYSIS: US Economy Flirting With Stagflation as Prices Remain High While Economy Slows Down
June 21, 2023
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Business & Marketseconomic policieseconomic recessioneconomyinflationPolicies & ImpactsrecessionstagflationUSUS News
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‘Fastest and Most Aggressive’ Tightening Policy Could Trigger US Recession: Wells Fargo
Wells Fargo Investment Institute is predicting a recession in the United States this year as a result of the Federal Reserve’s aggressive monetary tightening policy. Wells Fargo is expecting a “global slowdown,” including a “moderate” recession in the United States this year, followed by a U.S.-led recovery in 2024, the firm’s 2023 Midyear Outlook report…
‘Big Rally’ Before ‘Big Collapse’: BofA Strategist Does Not See a Bull Market
Michael Hartnett, a strategist at the Bank of America, is warning investors that the current market rally may not last long and could be followed by a large decline. The S&P 500 has risen by over 15 percent year-to-date as of June 16. Recently, the index rose 20 percent above its low hit on Oct….
Spike in US Corporate Bankruptcies, Number of Filings Highest in Over a Decade
Corporate bankruptcies in the United States rose in May, based on the latest reports, with the first five months of 2023 seeing the highest number of filings since 2010. There were 54 corporate bankruptcy filings in May, up from 52 in April, according to a June 6 report published by S&P Global. In the first…
US Inching Towards Recession as Leading Index Declines Again in April
May 19, 2023
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Business & MarketsConference Board Leading Economic Index (LEI)economic recessioneconomyrecessionUSUS News
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The American economy is signaling growing signs of slipping into a recession as the Leading Economic Index (LEI) continued its monthly decline in April, predicting a deterioration in the economic outlook. The Conference Board’s LEI for the United States fell by 0.6 percent in April following a 1.2 percent decline in March, according to a…
Oil Prices Rise as Concerns About US Economy Persist
May 15, 2023
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Business & Marketseconomic recessioneconomyenergyGold and CommoditiesMarketsoil pricesoil productionPolicies & ImpactsUS
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Oil prices rose during early Monday trading after a long streak of weekly declines, with the overall market sentiment expected to remain lukewarm due to worries about the state of the American economy. Brent crude oil prices were trading at $75.42 per barrel on Monday, as of 10:44 a.m. EST, up from its opening of…
Further Fed Rate Hikes Will ‘Trigger Severe Recession,’ Warns Musk
Industrialist Elon Musk is warning that the United States is already in a recession that could turn “severe” with even more rate hikes by the Fedeeral Reserve, pointing to bank failures as proof of a stressed-out economy. “Fed data has too much latency. Mild recession is already here,” Musk stated in a tweet on April 30. The…
Tyson Laying Off 15 Percent of Senior Leadership, 10 Percent of Corporate Workers
Tyson Foods will slash its senior leadership and corporate roles in a bid to improve efficiency, which comes as the company reported dismal financial numbers in the first quarter 2023 fiscal year. In a memo (pdf) to employees on Wednesday, Tyson Foods CEO Donnie King said that one of the ways the company plans on…
‘Everything Points to Relatively Mild Recession’ in 2023: Bank of America CEO
April 19, 2023
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Bank of AmericaBusiness & Marketscorporate defaultseconomic recessioneconomygdp growthrecessionUSUS News
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The chief executive of Bank of America (BofA) is expecting a recession to hit the United States this year, with GDP growth projected to fall for three consecutive quarters. U.S. GDP is estimated to contract by 0.5–1.0 percent for the upcoming three quarters before growth turns positive, BofA CEO Brian Moynihan said during the bank’s…
‘We’re Going to See a Lot of Bankruptcies’: Former CEO
Bob Nardelli, the former CEO of Home Depot, is warning about more bankruptcies hitting the U.S. economy, and blames lawmakers for their delay in coming to terms regarding the country’s debt ceiling. “I think we’re going to see a lot of bankruptcies. Like Bed, Bath, and Beyond. We got Walmart not only laying people off…
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