Economy

There may be trouble looming on the horizon for the U.S. stock market, according to BCA Research. In a note to clients last week, BCA Research chief global strategist Peter Berezin warned that, contrary to popular belief, the economy will fall into a recession either this year or in early 2025.  Should that happen, the…

ECB Pres. Lagarde: It will take time to be certain that inflation is on trackstrong labor market means we have time to gather information.Speaking to the economic uncertainties:Soft landing for euro zone economy not guaranteed.We also need to be mindful of the fact that the growth outlook remains uncertain.Speaking to future uncertainties:We are…

A crucial week of labor market data will greet investors during a holiday-shortened trading week that begins the month of July, the third quarter, and second half of 2024.The S&P 500 (^GSPC) enters Q3 up 14.5% so far this year, while the Nasdaq Composite (^IXIC) rallied more than 18%. The Dow Jones Industrial Average (^DJI) gained a more…

(Bloomberg) -- US employers probably tempered their hiring while wage growth moderated in June, another favorable development for Jerome Powell and his Federal Reserve colleagues seeking more confirmation that inflation is slowing.Most Read from BloombergPayrolls in the world’s largest economy are projected to have increased by about 190,000,…

The government’s deficit problem is creating an income problem for Americans, economists warn.Last week, the Congressional Budget Office raised its estimate for the government deficit this year by a whopping 27%, or $408 billion over its February forecast, to $1.9 trillion.Paying for that debt can divert money away from private investment, which…

By Gertrude Chavez-DreyfussNEW YORK (Reuters) -The U.S. dollar drifted lower against most currencies on Thursday, pressured by softening data in the world's largest economy that backs expectations the Federal Reserve will start cutting interest rates this year.The yen edged up from a 38-year low against the greenback following the U.S. numbers,…

Ratings agencies S&P Global and Moody’s drew fire at a US congressional hearing on Wednesday for failing to reflect the risk of a “multi-trillion-dollar time bomb” that China’s local government financing vehicles pose for global financial markets.Grilling witnesses at a House Oversight committee hearing, California Democrat Katie Porter won…

At the heart of the ongoing realignment of American politics is a fierce debate over how to improve the lives of workers. But too often missing from this debate is a shared understanding—rooted in facts and statistical evidence—of just how well American workers are doing in the first place. Featuring original analysis from EIG scholars, public…

Beijing has expressed serious concerns following Washington’s proposal of a set of detailed rules that would restrict and monitor United States investments in China for artificial intelligence, semiconductors and quantum computing.  The Chinese Commerce Ministry on Monday said that while the US has repeatedly stressed that it has no…

Angle down icon An icon in the shape of an angle pointing down. Anthropic CEO Dario Amodei thinks universal basic income isn't going to cut it. Anthropic Rapid advances in AI may concentrate power and wealth among a small elite.Anthropic CEO Dario Amodei says a universal basic income may not sufficiently address the shift.He says…