Denver Mayor Michael Hancock is proposing a $1.6 billion budget to support the city over the next year.
The legendary investor is one of the Cassandras of Wall Street. His warnings are closely watched in this time of uncertainty.
- Business Insider
Wharton professor Jeremy Siegel says Jerome Powell is making one of the biggest policy mistakes in the Fed's 110-year history, and it could lead to a major recession
Siegel criticized the Fed's "inability to recognize that inflation is easing" as it continues to push interest-rate hikes
- Lexington Herald-Leader
OpEd: Every day in the Biden era economic news is positive. The US has record low child poverty. Jobless claims are falling. Job creation is off the charts.
The dollar's sustained rise is increasing the risk of global stagflation and recession, according to Mohamed El-Erian, the president of Queens' College at Cambridge University.
After years of delay, the E.U. is finally trying to stand up to Orban's anti-democratic rule in Hungary
- Business Insider
Wharton professor Jeremy Siegel says the Fed's rate hike campaign is so extreme that recession risk is much higher than risk of the central bank 'waffling' on inflation
"Honestly, Chairman Powell I think should offer the American people an apology for such poor monetary policy he's pursued," Jeremy Siegel said.
- The New Voice of Ukraine
The Organisation for Economic Co-operation and Development (OECD) says Russia’s full-scale invasion of Ukraine has led to a greater economic downturn than previously expected, the Reuters news agency reported on Sept. 26.
Analysts at the mutual fund giant Vanguard estimate the likelihood that the U.S. will drop into a full-blown recession sometime during the next 12 months at 25%, and some time during the next 24 months at 65%. The Vanguard analysts … Continue reading → The post Vanguard Says There's a 65% Chance of a Recession – Here's What to Do appeared first on SmartAsset Blog.
(Bloomberg) -- Vladimir Putin’s decision to call up 300,000 men to fight in his invasion of Ukraine is hitting two of the battered Russian economy’s weak spots.Most Read from BloombergGermany Suspects Sabotage Hit Russia’s Nord Stream PipelinesEverything-Selloff on Wall Street Deepens on 98% Recession OddsStocks, Commodities Drop; US Treasury Yields Surge: Markets WrapJohn Paulson on Frothy US Housing Market: This Time Is DifferentHurricane Ian Makes Landfall in Cuba as It Churns Toward FloridaT
NAIROBI (Reuters) -Kenyan President William Ruto on Tuesday appointed former central bank governor Njuguna Ndung'u as finance minister to steer the economy through rising inflation, a heavy debt burden and drought. Ndung'u, an economics professor, led the central bank between 2007 and 2015, winning praise for presiding over the expansion of the financial sector and condemnation for prioritising growth over price stability in 2011. Ruto was sworn in this month after a hard fought electoral contest, in which he promised that he would create economic opportunities for the poor.
- LA Times
The Fed isn't giving the economy time to absorb its rate increases before imposing more pain. That could leave people jobless for no reason.
- ABC News
Congress has just three legislative days remaining to avert a fast-approaching government shutdown at the end of the week, and much of its ability to keep the government running will depend upon whether lawmakers can navigate an impasse over energy policy. In the few days that remain, Senate Majority Leader Chuck Schumer will try to lead the Senate in passage of a short-term funding bill that is expected to include Sen. Joe Manchin's energy permitting reform legislation. Schumer struck a deal with Manchin to include energy permitting reform, a top priority for the West Virginia moderate Democrat, on a must-pass piece of legislation before the end of the fiscal year on Sept. 30 in order to secure Manchin's crucial support for Democrats' keystone Inflation Reduction Act.
At Ulaanbaatar's Naiman Sharga money exchange market, elderly women stand in the street waving wads of money at passers-by, encouraging them to change foreign currency to Mongolian tugriks.
Privatizing Social Security is an alternative to the current pay-as-you-go government program, with pros and cons depending on whom you ask.
- Associated Press
As Europe heads into winter in the throes of an energy crisis, offices are getting chillier. Bakers who can't afford to heat their ovens are talking about giving up, while fruit and vegetable growers face letting greenhouses stand idle. In poorer eastern Europe, people are stocking up on firewood, while in wealthier Germany, the wait for an energy-saving heat pump can take half a year.
- LA Times
The overall job market may be softening, but employers of truck drivers, fast-food cooks and solar roof installers can't hire fast enough.
- USA TODAY
Although Medicare and Social Security face long-run financing problems, Democrats and Republicans don't agree on what to do about it.
- Motley Fool
The Federal Reserve is trying to slow the pace of inflation by implementing interest rate hikes. While we can't say with certainty that a full-blown recession will hit in the near term, it's important for workers to prepare for one -- and the layoffs that might come with one. One of the best ways to gear up for a layoff is to boost your emergency fund.
- Yahoo Finance
Republicans think tax cuts and deregulation will fix everything. Not inflation.
- The Hill
Lawmakers don’t have much time to avert a government shutdown and have many problems to solve before they can get there. We’ll also look at why the Federal Reserve is trying to put people out of work and a new rule that may help you save money on plane tickets. But first, check out the…