Goldman Sachs: US Facing a 15% Risk of Recession

Goldman Sachs has revised its predictions, reducing the chances of a recession in the US from 20% to 15%. Analysts at the investment bank attribute this to lower inflation rates and a strong job market, suggesting that the Federal Reserve is unlikely to raise interest rates further. Despite the cooling inflation, American families are still …

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Would the Toronto Blue Jays playoff bid bring economic success?

This year in Canada, the month of September holds significance for two reasons. First, there is mounting pressure on the Toronto Blue Jays as they strive to secure a wild card spot for the MLB postseason. Second, economists are analyzing data to update their forecasts on the potential decline in the economy. According to Statistics …

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Rescue efforts fail, leading to potential closure of Wilko stores

The majority of Wilko stores are set to close after the business’s attempts to find a buyer failed, according to administrators PwC. On Wednesday evening, unions were informed by PwC that store closures and job losses were imminent, as efforts to secure a buyer for the collapsed business proved unsuccessful. GMB, which represents over 4,000 …

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China’s Deepening Crisis: Evergrande’s U.S. Bankruptcy Filing and the Next Risks

Text size Evergrande has long symbolized China’s sprawling and distressed property sector. Getty Images Evergrande has filed for bankruptcy protection in the U.S. nearly two years after its descent into distress triggered a crisis across China’s property sector. More risks, beyond developers, are brewing in the world’s second-largest economy. Evergrande filed for Chapter 15 bankruptcy …

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Wholesale inflation accelerates in July following alleviated pressures

Wholesale prices in the United States showed a slight increase in July, indicating a decrease in inflationary pressures compared to alarming levels seen in 2022. According to the Labor Department’s report on Friday, the producer price index, which measures inflation before it affects consumers, rose by 0.8% last month compared to July 2022. This follows …

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UK second quarter growth exceeds expectations

Households have shown increased spending on restaurants and transportation, resulting in a 0.7% increase in real household expenditure during the quarter. However, the UK’s post-pandemic recovery is still significantly lagging behind other wealthy nations. According to Samuel Tombs, chief UK economist at Pantheon Macroeconomics, the UK is the only G7 country where the main quarterly …

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Could a recession determine the outcome of the 2024 election?

During Bill Clinton’s 1992 presidential campaign, strategist James Carville emphasized the importance of the economy with his famous phrase written on a whiteboard: “The economy, stupid.” Unemployment was high after a recession, and Carville understood the significant role the economy plays in elections. The incumbent, George H. W. Bush, was perceived to have mishandled the …

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StatCan set to release figures on Canada’s economic growth in May

Written By Staff Source: The Canadian Press Posted on July 28, 2023 at 6:31 am Decrease article font size Increase article font size Statistics Canada is preparing to release its latest economic report for May, along with a preliminary overview of the second quarter. The early estimate from the federal agency shows a 0.4% growth …

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Jay Powell faces unasked tough questions from journalists

As an economist, I find Federal Reserve Chair Jerome Powell’s press conferences increasingly frustrating to watch. It’s not because Powell responds with well-crafted answers to the journalists’ inquiries. It’s because the journalists fail to ask the tough and obvious questions that could reveal the misguided nature of the Fed’s data-dependent and overly hawkish monetary policy. …

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