A new poll found that most Americans believe the United States is headed for a recession or is already in an economic downturn. Pessimism about the economy hit a record high amid rampant price inflation, rising interest rates, and growing recession concerns. According to the latest CNBC All-America Economic Survey, 69 percent of U.S. adults…
Record Number of Americans Pessimistic About Economy as Recession Fears Grow: Poll
Yellen: US Banks May Tighten Lending, Negating Need for More Fed Rate Hikes
Banks are likely to slow down in lending in light of the fallout from the recent banking crisis and do part of the federal government’s work in cooling inflation, Treasury Secretary Janet Yellen said Sunday. “Banks are likely to become somewhat more cautious in this environment,” Yellen said in an interview on CNN’s “Fareed Zakaria…
Yellen: US Banks ‘Likely to’ Tighten Lending, Negating Need for More Fed Rate Hikes
Banks are likely to slow down in lending in light of the fallout from the recent banking crisis and do part of the federal government’s work in cooling inflation, Treasury Secretary Janet Yellen said Sunday. “Banks are likely to become somewhat more cautious in this environment,” Yellen said in an interview on CNN’s “Fareed Zakaria…
Recession Looms as 5 Percent CPI Provides No Relief
Commentary The rising cost of living, tightening credit, slowing consumer spending, along with declining real wages and retrenchment in the jobs market, are each conspiring and threatening to move the U.S. economy into recession later this year. Despite lower headline Consumer Price Index (CPI), inflation is still taking its toll on American families. Just released…
Federal Reserve Governor is ‘Concerned’ About Number of Banks Falling 71 Percent Since 1983
Federal Reserve Governor Michelle Bowman is troubled by the falling number of financial institutions in the U.S. banking system. In the aftermath of the Silicon Valley Bank and Signature Bank failures, there has been more scrutiny surrounding the health and state of the financial sector. At the end of 2021, there were 4,237 banks, down…
The Federal Reserve Makes Bankers Rich
Commentary The Federal Reserve creates booms and busts that make banks richer and leave citizens holding the bag. In March 2023, the U.S. Treasury approved the provision of at least $300 billion worth of loans to Silicon Valley Bank (SVB) and other banks. Treasury Secretary Janet Yellen assured the public that this was not a…
Fed Expects Banking Crisis to Trigger Recession Later This Year, Minutes Reveal
Federal Reserve staff are projecting that the banking crisis would trigger a recession later this year, minutes from the March Federal Open Market Committee (FOMC) policy meeting revealed. As expected, the turmoil in the banking sector was the main focus of last month’s policy meeting, with many Fed participants expressing concern that the collapse of…
Recession Risk Grows After Money Supply Shrinks at Fastest Pace Since Great Depression
The U.S. money supply contracted for the third consecutive month, and is declining at the fastest pace since the Great Depression, new Federal Reserve data show. In February, the M2 money supply—a benchmark for how much cash, bills, bank deposits, coins, and money market funds are circulating throughout the national economy—tumbled 2.24 percent from the…
Bank Crisis Spawns Credit Crunch: Analysts
April 10, 2023
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In the wake of recent failures in some regional bank, Americans across the board are finding it harder to get credit. Because smaller banks are so critical to small-business and consumer lending, many analysts predict the fallout from the Fed’s campaign to tame inflation will have dire consequences for the economy. “Bank lending peaked in…
Market Betting on Fed Rate Cuts: Investment Strategist
April 10, 2023
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Investors are closely watching the consumer price index report this Wednesday for signs that inflation is slowing down. But Lance Roberts, chief investment strategist for RIA advisors, says recent core CPI data shows that inflation is still sticky. The federal reserve has been hiking interest rates to fight inflation. While it says it’s going to…
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