Jamie Grill | Getty Images All the talk about a looming recession you may have worried about your finances. You aren’t alone: Some 74% of US consumers are concerned about a recession, according to a new survey from Empower and Personal Capital. In addition, 85% are worried about inflation and 56% are already seeing their … Read more
The US has experienced at least 30 recessions throughout history, dating back as early as 1857. Some economists argue that they may have become an inevitable part of the financial cycle that fluctuates between periods of expansion and contraction. “History teaches us that recessions are inevitable,” said David Wessel, a senior fellow in economic studies … Read more
Who may qualify for ‘inflation relief’ checks Those with up to $75,000 in income, or $150,000 if married and filing jointly, will receive up to $350 per tax filer, plus $350 if they have one or more dependent. Thus, joint files with at least one dependent stand to receive the highest possible sum of $1,050. … Read more
kate_sept2004 | E+ | Getty Images As record high inflation persists in the US, Americans are feeling a new side effect — in security around their emergency savings, according to a new survey from Bankrate.com. The percentage of people who are uncomfortable with the amount of money they have set aside is now 58%, up … Read more
With inflation still hovering near 40-year highs, it’s getting harder for workers across all income levels to make ends meet. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, according to the latest data from the US Department of Labor. Although it was down slightly from the March … Read more
44% of workers are worried about a layoff, job loss Despite the collective optimism around the current job market, 44% of workers are worried about a layoff or job loss, CNBC’s All-America Workforce Survey found. Some 84% are concerned about a recession. Economists are starting to raise their recession probability outlooks. On Monday, Goldman Sachs … Read more
Interest rate increases by the Federal Reserve to subdue inflation are no panacea for the economy, says Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund manager. “I now hear it commonly said that inflation is the big problem. So the Fed needs to tighten to fight inflation, which will make things good … Read more
Runaway inflation has raised fears that the economy is headed towards a return of stagflation but a host of Wall Street banks such as Goldman Sachs and HSBC there remains opportunities for investors to safely navigate this tricky backdrop. UCG | Getty Images What is stagflation? Stagflation is a term coined in the 1970s when … Read more
Europe and the US face a high probability of recession as central banks are forced to aggressively tighten monetary policy to combat inflation, according to Deutsche Bank CEO Christian Sewing. The US Federal Reserve, European Central Bank, Swiss National Bank and the Bank of England all moved to rein in inflation last week, albeit to … Read more
Markets have been on a wild ride recently, swinging between gains and losses. However, the brutal selling has meant the S&P 500 is still in a bear market. When asked whether markets have hit a bottom, Wall Street veteran Ed Yardini said he doesn’t think “we’re gonna climb out of this thing very quickly, not … Read more
