Despite a solid footing heading into the next economic cycle—low interest rates, a hot housing market, and strong GDP growth— there are some looming signs of a recession on the horizon that shouldn’t be ignored, says a financial expert. “As good as prosperity is now and will be in the near future, there’s 100 percent…
Economic Update Predicts Challenges Ahead
June 15, 2021
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Christopher SchwartzeconomicseconomyFederal Reservefinancial forecastGDPinterest ratesLocal NewsOrange CountyRegional-Local NewsSouthern CaliforniastimulusUniversity of CaliforniaUS
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Inflation Pushing Interest Rates Higher Would Be Good for US: Yellen
Treasury Secretary Janet Yellen said that the trillions of dollars in President Joe Biden’s new spending proposals would be good for the United States even if it pushes inflation higher and leads the Fed to raise interest rates. “If we ended up with a slightly higher interest rate environment it would actually be a plus…
Core Consumer Inflation Soars to Levels Not Seen Since 1992
Consumer prices excluding the volatile food and energy components soared by 3.1 percent in the year to April, surging past the Federal Reserve’s 2 percent target and reaching levels not seen in nearly 30 years. The so-called core personal consumption expenditures (PCE) price index, which excludes food and energy and is the Fed’s preferred method for…
Fed Holds Interest Rates Near Zero, Expects Temporary Rise in Inflation
WASHINGTON— The Federal Reserve announced on April 28 that it would keep U.S. interest rates near zero as the pandemic “continues to weigh on the economy.” The Fed officials expect a temporary spike in inflation due to strong consumer spending as the economy continues to reopen. Following a two-day meeting of the Federal Open Market Committee (FOMC), the…
Fed Holds Interest Rates Near Zero, Boosts Economic Projections
WASHINGTON—The Federal Reserve announced on March 17 that it would keep U.S. interest rates near zero as the pandemic continues to pose “considerable risks” to the economy. The central bank, however, made a significant upgrade to its forecasts to reflect the acceleration of economic recovery after the $1.9 trillion COVID relief package. “Following a moderation in the pace…
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