U.S Economy Crashes into Contraction for First Time Since 2020
The United States economy has suffered a major downturn in July, crashing into contraction for the first time since the impact of the pandemic hit in 2020.
Economy
Morgan Stanley Warns Bear Market ‘Not Over,’ Even If We Avoid Recession
American multinational investment bank Morgan Stanley has warned that the current bear market is “not over” amid recent positive signals.
Retail Sales Rose in June but Down When Inflation Taken into Account
Retail sales in the United States saw a 1 percent rise in June but were down when the impact of inflation is taken into account.
Economist Who Correctly Predicted Inflation Is Now Predicting More to Come
The economist who correctly predicted today’s inflation is now warning that there’s more to come.
Biden’s Inflation-Tackling Just ‘Theater,’ Top Republican on Ways and Means Committee Warns
The top Republican on the House Ways and Means Committee has warned that Democrat President Joe Biden’s efforts to tame soaring inflation are nothing more than a “political gimmick” and “theater.” Rep. Kevin Brady (R-TX), the Republican Leader on the House Committee on Ways and Means, argues that Biden’s proposals—like rolling back some Trump-era tariffs on … Read more
Bank of England Warns Lenders to Prepare for Coming Economic Storm
The Bank of England has issued a warning to lenders to prepare for a coming economic storm.
Trump Reveals What Inflation Would Be like If He Were Still President
President Donald Trump has declared that the Biden administration’s decades-high inflation would have never happened on his watch.
Large Chicken Processing Plant Shuts Down Suddenly amid Soaring Costs, Widespread Shortages
A large Tennessee chicken processing plant has shut down suddenly, citing soaring costs amid record-high inflation.
Consumer Confidence Hits Record Low as Americans Become Deeply Pessimistic about Economy
Americans have never been this pessimistic about the economy, with consumer confidence now hitting record lows, according to new data.
45 Housing Markets Have ‘Probability of Price Decline,’ Research Firm Warns
Several housing markets across the United States have the “probability of a price decline” over the next year, a research firm is warning.