The demand for goods and services in the U.S. economy has suffered in recent weeks, S&P economist Chris Williamson said while raising concerns about the country slipping into recession. The pace of America’s economic growth has “slowed sharply” in June, with “deteriorating forward-looking indicators” setting the stage for an “economic contraction” during Q3, 2022, Williamson,…
‘Remarkable Drop’ in Demand for Goods and Services as Recession Fears Mount in America: S&P Economist
June 24, 2022
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‘Recessions Aren’t All the Same’: Treasury Secretary Yellen
June 22, 2022
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Business & Marketseconomic recessioneconomyExecutive Branchhigh inflationinflationPoliticsrecessionSecretary of Treasury Janet YellenunemploymentUS
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U.S. Treasury Secretary Janet Yellen insisted that not all recessions are alike and that it might be possible to bring down inflation while maintaining full employment. The usual view that two quarters of negative growth indicates a recession “has typically worked,” Yellen said to reporters on June 21 when asked about how she would measure…
President Biden Lashes Out at Reporter for Suggesting Recession ‘More Likely Than Ever’
President Joe Biden’s day at the beach briefly turned into a confrontation when a reporter asked him about the likelihood of an imminent economic recession, causing the President to react negatively and accuse the journalist of sounding “like a Republican politician.” Biden was confronted by reporters at his vacation home near Rehobeth Beach, Delaware, on…
Markets Are Not Prepared for a Crisis
Commentary The most common question among investors these days is when to buy the dip. Very few market participants seem to be worried about a crisis or deep recession, let alone a nuclear threat. However, those three scenarios are not unimaginable. In its Global Data Watch of June 17, JP Morgan says that its internal…
Fed Promises ‘Unconditional’ Commitment to Fighting Inflation
June 19, 2022
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The Federal Reserve has promised to fight inflation unconditionally while also warning about a rise in inflation expectations in its latest Monetary Policy Report. The Federal Open Market Committee (FOMC) has been “adjusting” its policies and communications since last fall in response to inflationary pressures, it said in a June 17 report. “The Committee is…
Over 60 Percent of CEOs Expecting Recession, 15 Percent Already in Recession: Survey
June 19, 2022
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A significant majority of CEOs are worried about an upcoming potential recession, while many are also worried about the issue of margin compression, according to the latest survey by business research firm The Conference Board. More than 60 percent of global CEOs are expecting a recession in their primary location of operation within the next…
Chances of US Recession at 85 Percent, S&P Has Fallen 20 Percent From High in 2022: JP Morgan
Analysts at JP Morgan have predicted an 85 percent chance that the United States will enter a period of recession based on the decline in the S&P 500. During the past 11 recessions, the S&P 500 declined by an average of 26 percent. In the current year, the index has fallen 20 percent from its…
Capitol Report (June 6): WH Lifts Solar Tariffs on Some Asian Countries; Bipartisan Gun Talks
June 6, 2022
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The White House admitted that the deployment of U.S. solar modules is “in jeopardy” because they do not have enough supply. So to import more from Southeast Asia, the Biden administration is waiving tariffs for at least two years—regardless of whether or not they are made with forced labor. The cost of goods and gasoline…
BlackRock Warning Fed Rate Hikes May Trigger Recession
The U.S. Federal Reserve’s attempt to rein in inflation by raising interest rates might end up pushing the country into a recession, BlackRock, the world’s largest asset manager, recently warned in a note. “The Fed’s hawkish pivot has raised the risk that markets see rates staying in restrictive territory,” the note said, according to Fox…
Yellen Dismisses Possibility of US Recession But Admits Inflationary Risks
Secretary of the Treasury Janet Yellen dismissed the possibility that the United States might enter into recession anytime soon while speaking at a press conference ahead of the Group of Seven (G-7) finance ministers meeting in Germany. “We are in a global environment where there are significant risks and pressures, but I really don’t expect…
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