Wall Street is afraid that the economy has entered an inflation feedback loop from hell, in which wages and prices push each other up until the Federal Reserve is forced to do something drastic: cause a recession . No one has seen an economy like this in 40 years. Inflation is surging, Americans are feeling […]
The Bank of Canada’s efforts to tamp down on persistent inflation are increasing the odds of pushing the economy into a recession in the next year, according to some economists. Consumers should start preparing for a contraction now, experts say, as the threat of layoffs and leaner days looms on the horizon. Armine Yalnizyan, economist […]
The Federal Reserve gave the biggest U.S. banks a clean bill of health in its annual stress test, saying they would be able to continue lending to households and businesses even in a severe recession. This year’s stress test measured the 34 biggest banks’ ability to maintain strong capital levels in a hypothetical recession marked […]
Billionaire Elon Musk said on Tuesday that a recession is “inevitable” and would likely take place sooner than later.
The “new” Apple isn’t really new. But it is new enough that the 46-year-old company’s modern incarnation has yet to see its resilience truly tested by a global recession. Investors currently aren’t baking one in. Apple’s share price has indeed taken a hard hit over the past few months, along with the rest of the […]
Oil prices slipped Wednesday, finishing up at their lowest level in weeks. West Texas Intermediate crude fell $3.33 per barrel, or 3%, to $106.19, its lowest settlement since May 12. Brent crude, the global oil benchmark, fell $2.91 per barrel, or 2.5%, to $111.74, its lowest close since May 18. Source link