Here’s a list of recession indicators and where they stand, according to Bank of America
Traders work on the floor of the New York Stock Exchange on February 27, 2020. Scott Heins | Getty Images Fears that the fast-spreading coronavirus will disrupt global supply chains and tip the economy into a recession are gripping investors...
Job growth smashes expectations for February as unemployment falls back to 3.5%
Nonfarm payrolls grew far more than expected in February as companies continued to hire leading into a growing coronavirus scare. The Labor Department reported Friday that the U.S. economy added 273,000 new jobs during the month, while the unemployment rate...
‘America should stay at work,’ despite coronavirus, Larry Kudlow says
National Economic Council Director Larry Kudlow said Friday that U.S. workers should continue going to work despite the coronavirus outbreak. Kudlow discussed the outbreak Friday on CNBC’s “Squawk on the Street,” saying Americans should remain calm. “I don’t want to...
Larry Kudlow: ‘I don’t want to panic on policy measures’ related to coronavirus slowdown
Larry Kudlow, President Donald Trump’s chief economic advisor, told CNBC on Friday that he doesn’t want to “panic on policy measures” designed to combat the new coronavirus and said that U.S. growth remains strong. “We would prefer a targeted approach,...
US trade deficit narrows in January; exports, imports fall
A container ship is seen from the Verrazzano-Narrows Bridge as it leaves New York on November 3, 2019. Johannes Eisele | AFP | Getty Images The U.S. trade deficit narrowed more than expected in January as imports declined, and further...
Coronavirus outbreak could spark more interest rate cuts, economist Benn Steil says
Council on Foreign Relations economist Benn Steil says the Federal Reserve’s half percentage point cut in interest rates may not be enough to keep the economy on track as the coronavirus spreads. “None of us would be surprised to see...
Rate cuts can’t save the global economy from the coronavirus, say analysts
Investors are expecting the U.S. Federal Reserve — and other central banks globally — to do more to rescue the global economy from a downturn caused by the ongoing coronavirus crisis. The Fed lowered its benchmark rate by 50 basis points...
Stocks making the biggest moves after hours: American Outdoor Brands, H&R Block, Okta and more
A visitor holding a revolver by US manufacturer Smith & Wesson (S&W) at the IWA OutdoorClassics trade show for hunting, shooting sports, equipment for outdoor activities and for civilian and official security applications. Daniel Karmann | picture alliance | Getty Images...
‘Bond King’ Gundlach says Fed panicked and short-term rates are ‘headed toward zero’
“Bond King” and DoubleLine Capital CEO Jeffrey Gundlach said Thursday that he believes the Federal Reserve panicked in cutting interest rates earlier this week and that short-term U.S. rates are headed for zero. “If we look at history, once the Fed does...
US weekly jobless claims underscore labor market strength despite coronavirus
Job seekers wait in line outside of Vertiport Chicago where Amazon was hosting a career fair on September 17, 2019. Scott Olson | Getty Images The number of Americans filing for unemployment benefits fell last week, suggesting the labor market...
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