The majority of business economists believe the United States is already in the midst of a recession, despite the Biden administration insisting the economy is strong enough to avoid one, according to a new report. The October 2022 National Association for Business Economics (NABE) Business Conditions Survey report was conducted between Oct. 3–10 among 55 NABE members….
Most Business Economists Say US Already in Recession or May Be Soon: NABE Survey
As the Economy Collapsed, Why Were Economists Silent?
September 26, 2022
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Commentary Public health as a profession has fallen into dispute but it is hardly the only one. The economists bear responsibility too, for it is they who should have been aggressive, open, and loud about every aspect of the pandemic policy response. And yet, they were largely silent as markets were wrecked, Congress blew up…
A Yale Professor Takes a Look at Popular Financial Tips
September 25, 2022
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Personal finance is a popular topic, as managing, investing, and budgeting money is an imperative part of life. However, just how you should do that depends entirely on who you ask. And there is certainly no shortage of experts, talking heads, and influencers ready to give their opinion. There is a large rift between financial advice given…
Is the Housing Market About to Crash? Here’s What Experts Are Saying
By Jeff Ostrowski From Bankrate The U.S. housing market may be starting to slow down, but it is still hot. Double-digit appreciation is commonplace. Many sellers are still giddily sifting through multiple offers, and frantic buyers continue to pay more than asking prices—sometimes by $100,000 or more. Yes, the real estate party remains in full swing, far longer…
Growing Number of Economists Anticipate Recession Will Hit by Middle of Next Year: Survey
An overwhelming number of economists think a recession will hit the United States by the middle of next year, according to a survey by The National Association for Business Economics (NABE) published on Monday. The survey (pdf) was conducted between Aug. 1 and Aug. 9 among 198 members of NABE. It found that 72 percent of economists polled expect…
3 US-based Economists Awarded Nobel Prize for Research on Jobs
The 2021 Nobel Prize in economic sciences was awarded on Monday to three economists who managed to pioneer research that brought new insights into the labor market. Joshua Angrist, an American economist who works at the Massachusetts Institute of Technology, and Guido Imbens, a Dutch-born economist who works at Stanford University, jointly received half of the…
Prominent Economist Warns Inflation Not Transitory, Could Be ‘Shock’ to Financial System
More U.S. economists are starting to publicly warn of rising inflation. A renowned economist Mohamed El-Erian said he worries “a great deal” that inflation will not be transitory, arguing that there is too much “on-the-ground evidence” it will stay high. In a recent op-ed in the Financial Times, El-Erian, who is one of the most widely followed economists,…
Some Economists Fear Biden’s $1.9 Trillion Relief Plan Could Spark Excessive Inflation
President Joe Biden’s proposed $1.9 trillion COVID-19 relief bill is fueling debate among economists about whether it will spark a nasty spike in inflation. The consensus view is that the Personal Consumption Expenditures (PCE) inflation rate—which is the measure that the Federal Reserve uses in its desired target of a 2 percent “average” rate for…
Economists Predict Sharp Slowdown Before Outlook Brightens Considerably
WASHINGTON—Economists forecast a strong recovery this year but warn of a sharp drop in the economic activity in the first quarter before it builds momentum following the winter. The U.S economy will grow at 3.9 percent over the four quarters of 2021, according to the latest estimates by the American Bankers Association’s Economic Advisory Committee….
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