Yahoo News

As the market’s downward slide continues following a hawkish Federal Reserve statement Tuesday afternoon, economists have downgraded their forecasts for the economy in 2023. “While we don’t necessarily have a recession in our forecasts, we do see the risk of a recession increasing,” said Beth Ann Bovino, Chief U.S. Economist for S&P Global Ratings. “We now have it at about 30%; we see the risk go much larger in 2023 when those cumulative rate hikes from the Fed to attack inflation… Source link

Federal Reserve Chairman Jerome Powell said Tuesday that the central bank will continue to raise short-term interest rates — which will likely slow economic activity — until there is “clear and convincing evidence” that inflation is coming down. “We will go to that point and there won’t be any hesitation about that,” Powell said at a Wall Street Journal event. In the face of inflation rates not seen since the 1980s, the Fed has ratcheted up short-term borrowing costs in an effort… Source link

If you’d told a golf fan in 2002 — back when Tiger Woods was collecting majors by the armload, and Phil Mickelson was the lovable major-less loser — that those two would still be the most popular players on the planet in 20 years, it probably wouldn’t have come as a total shock. (That 2002 fan would have reason to worry about the state of a game that hadn’t produced anyone to eclipse Tiger and Phil, but that’s a different story.) Woods and Mickelson possess a rare combination of… Source link

Walmart is seeing a bifurcation in how its various consumers shop its stores as inflation takes its grip on wallets, explains CFO Brett Biggs. The trend ranges from upper income households still buying name brand merchandise at higher prices, to lower income shoppers trading to cheaper private label products. “We’re seeing everything that’s going on in the United States right now,” Biggs told Yahoo Finance in an interview. The comments come as Walmart had a surprising earnings shortfall for the… Source link

Yahoo Sports’ Dan Wetzel and Sports Illustrated’s Pat Forde discuss coaches who are heading into the 2022 college football season including Louisville’s Scott Satterfield, Arizona State’s Herm Edwards, Nebraska’s Scott Frost, and Auburn’s Bryan Harsin. Video Transcript [YAHOO SPORTS LOGO JINGLE] DAN WETZEL: We know Jeff Brohm is the head coach at Purdue. And Jeff Brohm is a– from the Brohm family of Louisville. His father, Oscar, brothers, Greg, and Brian, his son– everybody…. Source link

Large investors are very downbeat on the economic outlook for the United States. Growth expectations fell to an all-time low in May, according to the latest Bank of America fund manager survey out on Tuesday. For a dose of perspective, the current reading is below that seen during the Great Recession and the dot.com bubble. Such dour sentiment comes despite economists expecting the U.S. economy will have grown around 2.5% in the second quarter and unemployment levels remaining near record… Source link

To say the 2021 quarterback class underwhelmed would be an understatement. The hyped 2021 group posted the lowest combined completion percentage since the 2018 class and the fewest yards per attempt since 2016. Five rookies attempted at least 100 passes this past season — Trevor Lawrence, Zach Wilson, Justin Fields, Mac Jones and Davis Mills — and only Jones and Mills completed more than 60% of their passes. Jones was also the only passer to finished with more than 7 yards per attempt…. Source link

A variety of Trump watchers have tracked Donald Trump’s business failures, lawsuits and assorted controversies. Now, Trump’s social media venture has released a rap sheet cataloguing the many stains on his long business career. This remarkable disclosure occurs on page 107 of the registration statement Digital World Acquisition Corp. (DWAC) filed with the Securities and Exchange Commission on May 16, providing key details of its planned merger with Trump’s new company, Trump Media &… Source link

Jimmy Butler and the Miami Heat host the Boston Celtics for Game 1 of the Eastern Conference Finals. What if I told you at the beginning of the year that the Nets, Lakers, Suns, Bucks, and Clippers would all miss the conference finals? That’s what’s happened, and it should be fun to watch these final four battle for an unlikely championship. With that said, let’s kick things off with these Eastern Conference finals between Miami and Boston. Injury Report Core Plays Jimmy Butler (SF… Source link

Twitter investors should brace for an all-out crash in the stock price if Tesla CEO Elon Musk abandons his bid for the social media platform, warns one veteran tech analyst. “In the absence of a bid, we would not be surprised to see the stock find a floor at $22.50,” said Jefferies analyst Brent Thill said Tuesday in a new note to clients. Such a price would be about 40% lower than Twitter’s current trading level. Musk’s outstanding deal for Twitter is for $54.20 a share. The path is being cut… Source link