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TEN years ago this month, America entered the “Great Recession”. A decade on, the recession occupies a strange space in public memory. Its toll was clearly large. America suffered a cumulative loss of output estimated at nearly $ 4trn, and its labour markets have yet to recover fully. But the recession was far less bad […]
A decade after it started, the Great Recession has faded into memory. Corporate earnings and the stock market have fully recovered, with the financial sector thriving. The labor market has fully recovered, with middle-class earnings growing and the economy flirting with full employment. The government, at the state, local, and federal levels, has recovered too, […]
In December 2007, the U.S. marked the beginning of its longest recession since World War II. Now the Consumer Financial Protection Bureau, an agency born in the ashes of the nation’s economic downturn, is under new leadership that promises big changes. Meanwhile, a tax plan speeding through Congress could have far-reaching effects on the economy, […]
Flickr/Random Retail Bon-Ton Stores is in trouble after reporting another terrible quarter of earnings. The company was already on weak footing heading into 2017. Department stores have been particularly hard hit by changes in consumer behavior over the past few years. However, one of the curious things about the so-called “retail apocalypse” is that not […]
Business Insider Michael Collins, the senior investment officer at PGIM Fixed Income, discusses monetary policy. He sees the Fed continuing to be transparent with their plan, which he says will likely result in two rate hikes in 2018. He says that there’s risk of the Fed hiking too much, too quickly, which would flatten the curve […]
Thomson Reuters A shit in the bond market is giving investors and Fed officials pause about the economic outlook. The concern stems from earlier periods when long-term interest rates slip toward or even below their short-term counterparts, often signaling recessions. Philadelphia Fed President Patrick Harker says the central bank must avoid inverting the yield curve, […]
Thomson Reuters Jerome Powell is set to replace Janet Yellen as Fed chair in February, pending Senate confirmation. He’s expected to follow Yellen’s game plan closely and look to normalize interest rates. This could invert the yield curve: quantitative tightening will put upward pressure on short-term rates, while lower inflation will put downward pressure on […]
Maybe it will start with a failed initial public offering, followed by the revelation of widespread fraud in Silicon Valley. Perhaps energy prices will spike, sapping the finances of anyone who drives a car to work. Maybe a foreign crisis will cause a credit crunch, or President Trump will spark a global trade war. A […]
Thomson Reuters Gulf nations have blockaded Qatar for five months now, demanding the small, Shi’ite nation shut down its Al Jazeera news station. Qatari leadership has stood its ground, but the standoff could plunge the region into an economic depression. Five months into the Gulf’s blockade against Qatar, and neither side looks ready to […]
Five months into the Gulf’s blockade against Qatar, and neither side looks ready to budge. But the repercussions of the ongoing spat—and Kuwait’s failure to end the dispute—could deliver a huge blow to the Gulf economy. Read more Doha has stood its ground: It refuses to shut down its renowned news station Al Jazeera or […]
