JPMorgan CEO Jamie Dimon has warned about a potential economic slowdown even while noting that the American economy is growing, and both the job market and consumer spending remain healthy. “Geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go, and the never-before-seen quantitative tightening and their effects on…
JPMorgan CEO Warns of Looming Risks for Economy
July 15, 2022
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Fed Report Reveals Nationwide Economic Slowdown, Increased Fear of Recession
July 14, 2022
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Beige BookBusiness & Marketsconsumer spendingeconomic recessioneconomyhigh inflationinflationjob growth slowsrecessionUS
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The Federal Reserve’s most recent Beige Book report has raised concerns about inflation and a slowdown of the economy, including an impending recession. The Beige Book—the shorthand name for the Summary of Commentary on Current Economic Conditions by Federal Reserve District—provides an update on economic conditions in each of the Fed’s 12 districts and is released…
Americans’ Inflation Expectations Hit Record High: New York Fed
July 12, 2022
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Business & Marketseconomic recessioneconomyhigh inflationinflationinflation expectationsNew York Federal ReserverecessionUS
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Americans’ short-term inflation expectations have reached a new high, according to the latest data from the June 2022 Survey of Consumer Expectations by the Federal Reserve Bank of New York. “Median one-year-ahead inflation expectations increased to 6.8 percent, from 6.6 percent in May, marking a new series high,” the Fed said on July 11, detailing…
Wall Street Experts Split on Stock Market Trajectory
July 11, 2022
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With the world grappling with inflation, political tensions stemming from the Russia–Ukraine war, and worries about an impending recession, stock market experts are now split on where Wall Street is heading for the rest of 2022 after declining for the first half of the year. Citigroup Inc. is in the camp that is expecting a…
June Jobs Beats Estimates; Recession Is a ‘Jump Ball’
June jobs printed at 372,000 new jobs, well above the consensus estimate of 268,000. The unemployment rate was 3.6 percent, unchanged from last month, but down from last June’s 5.9 percent. The labor force participation rate was 62.2 percent, up from the 61.6 percent that printed in June 2021, but down 10 basis points (bps, defined as 1/100th…
Mortgage Rates Fall as Recession Fears Mount
July 8, 2022
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U.S. mortgage rates fell for the second consecutive week after a rapid rise in June, the latest data from loan mortgage company Freddie Mac shows. The interest rate on a 30-year fixed-rate mortgage declined to 5.3 percent for the week ending July 6, down from 5.7 percent on June 29, according to Freddie Mac’s data. In the…
Job Openings Decline in May but Remain at Elevated Levels
July 7, 2022
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Business & Marketseconomic recessioneconomyhigh inflationhiresinflationjob openingsjob vacanciesrecessionU.S. unemployment rateUSUS News
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U.S. employers posted fewer jobs in May, signaling a weakening economy despite the fact that job openings continue to remain at high levels. “On the last business day of May, the number and rate of job openings decreased to 11.3 million (-427,000) and 6.9 percent, respectively. The largest decreases in job openings were in professional…
Citi Predicts Oil Prices Plunging 36 Percent in Case of Recession
Investment bank Citigroup is predicting oil prices to tumble by the end of the year if the world slips into a recession. Crude oil prices could end up at $65 per barrel by the end of 2022, analysts from the bank said in a July 5 note, Bloomberg reported. By 2023, prices could collapse further…
Factory Slowdown Strengthens Concerns About Global Recession
July 1, 2022
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A slowdown in factory growth across the United States, Europe, and Asia is strengthening fears of a global recession. “June PMI survey data showed the eurozone manufacturing economy ending the second quarter on a low as production levels fell for the first time in two years,” S&P Global said in a July 1 press release…
PIMCO Chief Warns About Potential US Recession, ‘Significant Growth Slowdown’
Andrew Balls from investment firm PIMCO has warned about the possibility of a recession in the United States, with Europe likely to face a similar situation. The chance of America slipping into a recession over the next 12 months is “probably more likely than not,” the global chief investment officer for fixed income at PIMCO…
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