Text size The Fed is closely watching tightness in the labor market as a barometer for the health of the US economy. Above, a Chick-fil-A worker in Texas. Brandon Bell/Getty Images The Federal Reserve’s preferred measure of inflation rose 4.4% annually in December, down from 4.7% in November, the latest sign that the era of …
PCE Data Show Another Drop in Fed’s Preferred Inflation Gauge Read More »
The high-flying tech industry is facing a reckoning as the economy slows and customers pull back on spending. In the past month alone tech companies have cut nearly 50,000 jobs, reversing a hiring spree that surged during the pandemic as millions of Americans moved their lives online. Google-parent Alphabet is the latest to slash its …
Here are the latest tech layoffs as the industry shudders Read More »
Photo: Angela Weiss/AFP via Getty Images After bursting out from the gates in early 2023, the market has lost its mojo this week. Driving the news: Stocks slumped for a third straight session Thursday, as the S&P declined by 0.8%. That put the S&P down 2.5% for the week, on track for the first down …
Despite its lackluster performance in 2022, gold has recently seen a surprise rally, with its price rising 16.9 percent over the past three months. This rally will continue into 2023, according to Alain Corbani, Portfolio Manager at the Gold & Precious Fund. Corbani, who has three decades of experience in …
Gold’s rally will continue into 2023, these 3 indicators reveal why – Alain Corbani Read More »
Often, it’s what isn’t said that deserves the most attention. Federal Reserve Chairman Jerome Powell’s decision to sidestep the issue of inflation and rate hikes during a central banking conference in Stockholm this week, as markets bet against his previous hawkish signals, may prove as pivotal as his late August speech in Jackson Hole when …
Fed Chair Powell Silent As Bond Markets See Recession, Rate Cuts Read More »
Tesla had a bad year 2022. On the stock market, it was a real nightmare. Tesla stock lost more than 65% of its value to the end of the year at $123.18. It had started in 2022 at $352.26. This fall translates into more than $720 billion of market capitalization which have evaporated in one …
For the US economy, 2022 was a wild and somewhat painful year. And 2023 could be even more intense. A year of stubbornly high inflation, rapid interest rate hikes and war-driven energy shock have weakened the US economy. While the job market remains remarkably strong, many economists say the US is likely to slip into …
Five ways to prepare for an uncertain 2023 economy Read More »
The risk of a nationwide recession is rising in states across the US, according to new research released by the Federal Reserve this week. A total of 27 US states are showing signs of faltering economic activity, according to researchers at the St. Louis Fed. The agency’s report cited data tracked in the Philadelphia Fed’s …
Why the risk of US recession is on the rise, according to Fed research Read More »
The stock market’s thumbs down to last week’s Federal Reserve policy meeting should serve as a stark reminder to the Fed of the serious financial-market risks it’s running by clinging to its hawkish monetary-policy stance. By committing itself to continued interest rate hikes even as the economy is moving toward recession, the Fed is inviting …
The Fed is playing with fire with its continued interest-rate hikes Read More »
The Federal Reserve’s 2 percent target rate for consumer inflation is coming under scrutiny from economists, lawmakers and investors, who are all expressing doubts not only about whether 2 percent inflation is desirable in the post-pandemic economy but if it’s even possible. I doubt that the [Federal Reserve] alone can get us below about 4 …
Fed’s 2 percent inflation target comes under fire from lawmakers, Wall Street Read More »