Category: economic recession

JPMorgan CEO Warns of Looming Risks for Economy

July 15, 2022
Business & MarketsCompanieseconomic recessioneconomyhigh inflationJamie DimonJPMorganrecessionU.S. economic growthUS
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JPMorgan CEO Jamie Dimon has warned about a potential economic slowdown even while noting that the American economy is growing, and both the job market and consumer spending remain healthy. “Geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go, and the never-before-seen quantitative tightening and their effects on…

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Fed Report Reveals Nationwide Economic Slowdown, Increased Fear of Recession

July 14, 2022
Beige BookBusiness & Marketsconsumer spendingeconomic recessioneconomyhigh inflationinflationjob growth slowsrecessionUS
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The Federal Reserve’s most recent Beige Book report has raised concerns about inflation and a slowdown of the economy, including an impending recession. The Beige Book—the shorthand name for the Summary of Commentary on Current Economic Conditions by Federal Reserve District—provides an update on economic conditions in each of the Fed’s 12 districts and is released…

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Americans’ Inflation Expectations Hit Record High: New York Fed

July 12, 2022
Business & Marketseconomic recessioneconomyhigh inflationinflationinflation expectationsNew York Federal ReserverecessionUS
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Americans’ short-term inflation expectations have reached a new high, according to the latest data from the June 2022 Survey of Consumer Expectations by the Federal Reserve Bank of New York. “Median one-year-ahead inflation expectations increased to 6.8 percent, from 6.6 percent in May, marking a new series high,” the Fed said on July 11, detailing…

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Wall Street Experts Split on Stock Market Trajectory

July 11, 2022
Business & MarketsCitigroupeconomic recessioneconomyinflationJPMorganMarketsrecessionstocksUSwall street analyst
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With the world grappling with inflation, political tensions stemming from the Russia–Ukraine war, and worries about an impending recession, stock market experts are now split on where Wall Street is heading for the rest of 2022 after declining for the first half of the year. Citigroup Inc. is in the camp that is expecting a…

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June Jobs Beats Estimates; Recession Is a ‘Jump Ball’

July 8, 2022
Business & MarketsBusiness Columnistseconomic recessionGDPjobsOpinionViewpoints
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June jobs printed at 372,000 new jobs, well above the consensus estimate of 268,000. The unemployment rate was 3.6 percent, unchanged from last month, but down from last June’s 5.9 percent. The labor force participation rate was 62.2 percent, up from the 61.6 percent that printed in June 2021, but down 10 basis points (bps, defined as 1/100th…

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Mortgage Rates Fall as Recession Fears Mount

July 8, 2022
Business & Marketseconomic recessioneconomyFreddie Macmortgage applicationsmortgage interest ratesreal estaterecessionUSUS Real Estate
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U.S. mortgage rates fell for the second consecutive week after a rapid rise in June, the latest data from loan mortgage company Freddie Mac shows. The interest rate on a 30-year fixed-rate mortgage declined to 5.3 percent for the week ending July 6, down from 5.7 percent on June 29, according to Freddie Mac’s data. In the…

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Job Openings Decline in May but Remain at Elevated Levels

July 7, 2022
Business & Marketseconomic recessioneconomyhigh inflationhiresinflationjob openingsjob vacanciesrecessionU.S. unemployment rateUSUS News
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U.S. employers posted fewer jobs in May, signaling a weakening economy despite the fact that job openings continue to remain at high levels. “On the last business day of May, the number and rate of job openings decreased to 11.3 million (-427,000) and 6.9 percent, respectively. The largest decreases in job openings were in professional…

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Citi Predicts Oil Prices Plunging 36 Percent in Case of Recession

July 5, 2022
Business & MarketsCitibankeconomic recessioneconomygas pricesMarketsrecessionUSUS News
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Investment bank Citigroup is predicting oil prices to tumble by the end of the year if the world slips into a recession. Crude oil prices could end up at $65 per barrel by the end of 2022, analysts from the bank said in a July 5 note, Bloomberg reported. By 2023, prices could collapse further…

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Factory Slowdown Strengthens Concerns About Global Recession

July 1, 2022
Business & Marketschina's factory activityeconomic recessioneconomyfactory growth slowsmanufacturing PMIrecessionUS
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A slowdown in factory growth across the United States, Europe, and Asia is strengthening fears of a global recession. “June PMI survey data showed the eurozone manufacturing economy ending the second quarter on a low as production levels fell for the first time in two years,” S&P Global said in a July 1 press release…

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PIMCO Chief Warns About Potential US Recession, ‘Significant Growth Slowdown’

June 30, 2022
Business & Marketseconomic recessioneconomyEuropean recessioninflationlayoffPIMCOrecessionUS
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Andrew Balls from investment firm PIMCO has warned about the possibility of a recession in the United States, with Europe likely to face a similar situation. The chance of America slipping into a recession over the next 12 months is “probably more likely than not,” the global chief investment officer for fixed income at PIMCO…

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