The Federal Reserve imposed the latest in a series of sharp interest rate hikes on Wednesday in a sign that policymakers aren’t backing down from an aggressive campaign to lower decades-high inflation. For the full article, click here.
Recession
Larry Summers urges Fed to admit unemployment will rise, end ‘confusion’
The Federal Reserve is causing “confusion” among investors by avoiding a clear declaration that unemployment is likely to rise during its fight against inflation, according to ex-Treasury Secretary Larry Summers. For the full article, click here.
BREAKING: GDP Shrank 0.9% in Q2, Marking Second Consecutive Quarter of U.S. Economy Contraction
It’s official: We’re in a recession. But it could have been worse. On Thursday, the U.S. Bureau of Economic Analysis revealed that the U.S. gross domestic product (GDP) shrank another 0.9% in the second quarter of 2022. For the full article, click here.
US recession this year ‘more likely than not,’ analysts warn
The US economy is more likely than not to sink into a recession this year as the Federal Reserve tightens monetary policy in its bid to cool decades-high inflation, economists warned Monday. For the full article, click here.