US retail sales unexpectedly decline in a sign that consumer economy could be cracking
U.S. retail sales fell for the first time in seven months in September, raising fears that a slowdown in the American manufacturing sector could be starting to bleed into the consumer side of the economy. The Commerce Department said Wednesday...
Weekly mortgage refinance applications rise, even as home purchase demand falls
Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images Mortgage interest rates rose last week, but that didn’t throw any cold water on the mini-refinance boom that’s...
‘Awfully high’ risks of a global recession in the next 12-18 months, Moody’s chief economist says
There’s an “uncomfortably high” chance that a recession could hit the global economy in the next 12-18 months — and policymakers may not be able to reverse that course, an economist said on Wednesday. “I think risks are awfully high...
IMF says trade war will cut global growth to lowest since financial crisis a decade ago
The U.S.-China trade war will cut 2019 global growth to its slowest pace since the 2008-2009 financial crisis, the International Monetary Fund warned on Tuesday, adding that the outlook could darken considerably if trade tensions remain unresolved. The IMF said...
Fed’s Bullard warns risks remain high and US economy may slow more sharply than expected
James Bullard, president and CEO of the Federal Reserve Bank of St. Louis. David Orrell | CNBC St. Louis Federal Reserve Bank President James Bullard said global trade and other risks remain high for a U.S. economy that may slow...
Larry Summers: US economy is just one bad recession away from zero rates or worse
The United States is just one bad recession away from being right back at zero interest rates or even lower, Larry Summers warned on CNBC on Monday. “It’s a very different world when everyone’s stuck at zero interest rates,” said...
Millennials are about to trigger a major ‘changeover point’ for the US economy, asset manager says
A fundamental shift in the spending habits of U.S. millennials will have an incredible impact on the world’s largest economy, according to the CEO of Smead Capital Management. U.S. adults aged between 21 and 38 years old will prioritize “necessity...
Do you know what a recession is? Here’s how we’ll know when the next one hits
A slew of weak economic data, increasing trade tensions and slowing GDP growth have flashed signs of an economic slowdown. No one can predict exactly when a recession will occur. If the U.S. economy is in a recession, how will...
US consumer prices were unchanged in September, the weakest reading since January
U.S. consumer prices were unchanged in September and underlying inflation retreated, supporting expectations the Federal Reserve will cut interest rates in October for the third time this year amid risks to the economy from trade tensions. The Labor Department said...
Market may be expecting more rate cuts than the Fed will deliver, meeting minutes show
Some Federal Reserve policymakers expressed concern at their most recent meeting that markets are expecting more rate cuts than the central bank intends to deliver, according to minutes released Wednesday. The Federal Open Market Committee approved a quarter-point rate cut...
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