Commentary What is it with these pundits and government spokespeople? Two years ago, they were wildly exaggerating virus threats, canceling and censoring people who pointed out contrary evidence. It was all about scaring people into compliance with a far-flung epidemiological experiment. Now the tendency has swung the other way. No matter how bad the economic…
US Economy Unexpectedly Declines 1.4 Percent in the First Quarter
The U.S. economy contracted 1.4 percent in the first quarter, new Bureau of Economic Analysis (BEA) data show. The market had forecast growth of 1.1 percent. This is the first time the world’s largest economy experienced negative growth since the second quarter of 2020. According to the BEA, the decline in the GDP was driven…
US Economy Declines 1.4 Percent in the First Quarter
The U.S. economy contracted 1.4 percent in the first quarter, new Bureau of Economic Analysis (BEA) data show. The market had forecast growth of 1.1 percent. This is the first time the world’s largest economy experienced negative growth since the second quarter of 2020. According to the BEA, the decline in the GDP was driven…
US Economy Declines 1.4 Percent in 1st Quarter
The U.S. economy contracted at an annualized pace of 1.4 percent in the first quarter, well below market expectations of 1.1 percent growth. The gross domestic product (GDP) data, reported on April 28 by the U.S. Commerce Department, mark the first negative growth since the second quarter of 2020 and a dramatic reversal from a…
Economist Nouriel Roubini Warns of ‘Growing Stagflationary Storm’
Economist Nouriel Roubini has warned that advanced economies and emerging markets are facing a “growing stagflationary storm” following a string of aggregate supply shocks and rising costs. Stagflation is a period marked by both rising inflation and increasing unemployment, something the United States has not experienced since 1980. Writing in The Guardian, Roubini, a professor of economics and international business…
Financial Markets Brace for Stagflation as Global Growth Optimism Sinks
Waning optimism over global economic growth prospects and rising stagflation fears have prompted investors to seek shelter in investment hedges. Earlier this month, the Bank of America’s (BofA) monthly survey of fund managers found that optimism about the international economy has slumped to an all-time low. Of the respondents, 71 percent were pessimistic about global…
Small Business Survey Reveals Ample Signs of Stagflation: Economist
Some inflation watchers have been on the lookout for signs of peak inflation, anticipating that the U.S. consumer price index will finally begin to trend lower after soaring to a fresh 40-year high in March. The latest data, however, has disappointed them. A recent small business survey and sky-high wholesale prices “telegraphed higher-for-longer inflation in…
Is the United States Headed Towards Stagflation?
Commentary “We now have the worst of both worlds—not just inflation on the one side or stagnation on the other, but both of them together. We have a sort of ‘stagflation’ situation. And history, in modern terms, is indeed being made.” – Iain Macleod (1965) Stagflation was a new phenomenon in 1965, but now it…
US Could Be Headed for Recession: Economist
April 14, 2022
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The U.S. economy could soon be in a state of “stagflation,” an expert warned, blaming the Biden administration’s “enormous” spending on the skyrocketing national inflation, amid growing fears of a recession. “There are increasing fears on Wall Street that we may be headed for a recession,” Peter St. Onge, a research fellow in economic policy…
To Combat Stagflation, Cut Tax Rates Like Trump Did
Commentary The U.S. economy is clearly shifting into a lower growth gear and many economists are ramping up their recession forecast for the second half of this year. So far, through the first 10 weeks of this year, GDP growth has slumped to a wobbly 1.2 percent, according to the Atlanta Federal Reserve Board. What…
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