Goldman Sachs CEO David Solomon said on Tuesday he thinks that, amid persistently high inflation, the Federal Reserve will hike rates beyond the range of 4.5–4.75 percent if the central bank doesn’t see any “real changes in behavior.” Solomon made the remarks at Saudi Arabia’s flagship investment conference in Riyadh, on Oct. 25, alongside other…
Goldman Sachs CEO Sees Fed Hiking Rates ‘Meaningfully From Here,’ Says Recession ‘Likely’
Economist Says Fed ‘Badly Misdiagnosed’ Inflation, Warns of ‘Stagflationary Swamp’ If Another Error Made
The economist Mohamed El-Erian has criticized the Federal Reserve for how poorly it has dealt with inflation, and he warned about the United States slipping into stagflation if policymakers do not deal with the issue carefully. Because of having “badly misdiagnosed” inflation last year, the Federal Reserve “significantly intensified” its policy response in the last…
Fed Playing a ‘Dangerous Game’ That May Lead to ‘Significant Recession’: Invesco Strategist
October 22, 2022
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Business & Marketseconomic policieseconomic recessioneconomyFederal Reservehigh inflationinflationrecessionU.S. interest rate hikesUS
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As the Federal Reserve keeps raising interest rates in its attempt to bring down inflation, it’s running the risk of triggering a considerable economic slowdown, according to Invesco’s chief global market strategist Kristina Hooper. “When you are raising rates in 75-basis-point increments and you’re not giving any time for it to process through and make…
Elon Musk Says a Global Recession Could Last Until Spring 2024, While Slamming the Fed for Hiking Rates
October 21, 2022
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Business & MarketsCompanieseconomic policieseconomyElon MuskFederal ReserveinflationMarketsrecessionUSWorld
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Elon Musk, the founder and CEO of Tesla and SpaceX, predicted a global recession that will last through the spring of 2024, while at the same time attacking policy actions by the Federal Reserve. On Oct. 21, Musk exchanged tweets with Dogecoin co-creator Billy Markus, who uses the Twitter handle Shibetoshi Nakamoto (the name used…
Jobless Claims Drop More Than Expected, Pointing to More Fed Tightening
New weekly filings for unemployment insurance—a proxy for layoffs and a labor market barometer—fell more than expected last week, to a three-week low, with experts saying that the Federal Reserve will likely see this as a sign of labor market tightness and, therefore, will have no reason to pause in its aggressive monetary-tightening cycle. First-time filings for…
Fed Pays Banks, Funds $15 Billion in Four Weeks for Not Investing Cash
The Federal Reserve has distributed more than $15 billion over the past four weeks to banks and money market funds simply for not investing the cash of theirs and their investors. The payouts have increased dramatically this year as the Fed is raising interest rates in an attempt to curb inflation. The Fed is saying…
‘Recession Fatigue’ as Consumers Begin to Break
October 17, 2022
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Business & MarketsBusiness ColumnistsconsumersdepressioneconomyFederal ReserveinflationOpinionrecessionUSUS NewsViewpoints
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Commentary “Recession fatigue” is setting in as consumers struggle under rising interest rates, high inflation, and a declining stock market. Such was the point made in a recent CNBC article: “As the Federal Reserve aggressively raises rates to combat persistent inflation, the tough stance could come at a price. Already, falling stock markets have wiped out more than $9…
Britain, Now Switzerland—Something Is Going to Get Broken
October 17, 2022
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BritainBusiness & MarketsBusiness ColumnistseconomyEuropeFederal ReserveinflationInternational Monetary FundOpinionrecessionSwitzerlandUnited KingdomViewpointsWorld
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Commentary First Britain, now Switzerland. The United Kingdom’s massive fiscal mess has made all the news, capturing the world’s attention for its sudden descent into drama more typical of undeveloped countries. London hadn’t always been the clean money center it now projects in recent decades. The pound had experienced almost frequent problems under the previous…
Inflation Is King
Commentary Inflation is now the single most important indicator for the financial markets. Fundamentals? They’re meaningless. Earnings? Important but not indicative of the future. Momentum? Well, that also depends on inflation. The financial markets now seem to be singularly driven by the anticipated trajectory of inflation. In other words, readings of inflation would provide an…
Overwhelming Majority of CEOs Say They’re Preparing for Recession
October 15, 2022
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Business & MarketsCEO confidenceeconomic policiesFederal ReserveinflationPolicies & ImpactsrecessionThe Conference BoardUSUS News
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Almost all CEOs say they are preparing for a recession in the United States, a recent survey shows. When asked to describe the economic conditions in the next 12–18 months, 98 percent of CEOs said they were preparing for a U.S. recession in the recent Conference Board Measure of CEO Confidence survey. However, most of…
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