The head of the World Bank has warned that Russia’s invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump. David Malpass told a US business event on Wednesday that it is difficult to “see how we avoid a recession”. He also said that a series of coronavirus […]
Tag: recession
U.N. warns of Crippling global food shortages this summer
Fears of a global food crisis are growing due to the shock of the war in Ukraine, climate change and rising inflation. Kristalina Georgieva, the International Monetary Fund managing director, told the World Economic Forum in Davos, Switzerland on Monday that “the anxiety about access to food at a reasonable price globally is hitting the […]
Brace for a recession say top CEOs
The mood in the C-Suite is darkening. CEO confidence has tumbled to the weakest level since the beginning of the Covid-19 pandemic, The Conference Board said Wednesday. For the first time during the economic expansion, CEO confidence is now in negative territory.Worse, business leaders are bracing for a potential downturn caused by the Federal Reserve’s […]
Stocks post worst month in nearly 14 years as recession fears grow stronger
US stocks plunged on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic. The tech-heavy Nasdaq fell 4.2% on Friday, dragged down by Amazon (AMZN), which dropped nearly 15% after it missed earnings expectations. The S&P […]
As recession fears mount, the Fed’s favorite inflation measure just hit a fresh 40-year high
Americans had to reach deeper into their pockets in March, as yet another key inflation index showed prices hit a fresh 40-year high. The Personal Consumption Expenditures price index increased by 6.6% for the year ended in March, the Commerce Department reported Friday. It was the highest rate since the period ended January 1982, outpacing […]
US economy shrank 1.4% in 1st quarter of 2022; worst performance in 2 years
The U.S. economy cooled markedly in the first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on growth and slowed the pandemic recovery. Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 1.4% on an annualized basis in the three-month period […]
Is the US economy already in a recession? ‘Probably’ says market expert
During an interview on “Mornings with Maria” market expert Mark Yusko argued the U.S. economy is “probably” already in a recession, and that government spending and money printing created the inflation Americans are experiencing today. MARK YUSKO: “The Fed is in a box. They are powerless against the two things that they fear most. One, […]
81% of adults in this survey believe a recession likely
After two years of the coronavirus pandemic, a recession and a rapid recovery, Americans are worried that the economy may swiftly decline once again. Some 81% of adults said they think the U.S. economy is likely to experience a recession in 2022, according to the CNBC + Acorns Invest in You survey, conducted by Momentive. […]
Bank of America warns of recession in mid 2017
There’s a chilling trend in the market, and it could wreak havoc on your portfolio, a top market watcher said. “We are seven years into a full-fledged, all out, central bankers doing everything they can to stimulate demand,” Bank of America-Merrill Lynch’s head of U.S. equity and quantitative strategy Savita Subramanian recently warned on CNBC’s […]
These 14 major retailers are each closing at least 100 stores
No doubt about it, it’s a rough ride in retail right now. With the rise in online shopping, discount shopping becoming the norm and the middle class shrinking, brick-and-mortar retail is doing quite a bit of downsizing. In fact, there are about 2,500 store closings in the works across the U.S. Aéropostale, the teen clothing retailer has announced […]