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A U.S. recession and unemployment hitting 6% are what it will take for surging inflation to be brought under control in America, according to former Treasury Secretary Larry Summers. In an

Projecting global growth slowing to 2.2% in 2023, UNCTAD outlines actions to avert crisis and support developing countries exposed to cascading crises of debt, health and climate due to inadequate financial support. Monetary and fiscal policy moves in advanced economies risk pushing the world towards global recession and prolonged stagnation, inflicting worse damage than the […]

WASHINGTON (Reuters)—U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September as new orders contracted amid aggressive interest rate increases from the Federal Reserve to cool demand and tame inflation. The Institute for Supply Management (ISM) survey on Monday also showed a measure of factory employment contracted last month for the […]

Median home prices in the United States fell 0.98 percent in August after falling 1.05 percent the month before, marking the largest monthly declines since the collapse of the 2000s U.S. housing bubble. The declines in home prices, according to a Monday report from mortgage data monitor Black Knight, Inc., are among the most dramatic […]

Sept 27 (Reuters) – Lyft Inc (LYFT.O) is freezing all hiring in the United States through the end of the year, a company spokesperson said on Tuesday, making the ride-hailing firm the latest to pause recruitment as high inflation forces cost-cutting measures.

What causes inflation? There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation. U.S. home prices are finally falling from a record high notched earlier this year, and could tumble by as much as 20% by mid-2023, according to a top economist.  Ian Shepherdson, the chief economist […]

There’s an 80% chance of the U.S. falling into a recession — much higher than previously predicted, according to Steve Hanke, a professor of applied economics at Johns Hopkins University. According to CNBC’s September Fed survey of economists, fund managers and strategists, those surveyed said there’s a 52% chance that U.S. could enter into recession […]

The Fed has said it won’t hesitate to keep interest rates high, for as long as it takes to drive down inflation. With the US central bank preparing to show it won’t flinch in its resolve to lower prices, the process is unlikely to be smooth. If it raises rates by too much, the economy […]

“Technically we are in a recession when you look at just the basic definition of two quarters of GDP contraction,”​ and while consumer spending might not yet fully reflect this shift, they are starting to tighten their purse strings, Nik Modi, managing director at RBC Capital Markets told attendees last week during a webinar hosted […]

Confused about whether the U.S. is in a recession? One should be. The United States’ National Bureau of Economic Research (NBER) has not declared that there is a recession officially even though the old definition most economists use – which is two quarters of contracting GDP growth – indicates the U.S. is in one as […]

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