Tag Archives: economic

There could be a major blow to the U.S. economy coming down the line: Freight railroads are preparing for possible strikes as a years-long labor dispute sits at an impasse ahead of a key Friday night deadline. A strike would not only add to the nation’s supply chain woes, but throw a monkey wrench into President Biden’s plan to tout the nation’s economic progress as midterm elections approach. On one side are freight companies like Union Pacific (UNP), CSX (CSX), and BNSF Railway, owned by… Source link

A potential railroad strike in the U.S. shouldn’t be viewed as a black swan event, according to Goldman Sachs chief economist Jan Hatzius, but it could still have an impact on the economy. “I don’t think it’s a black swan,” Hatzius told Yahoo Finance Live at the Goldman Sachs Communacopia + Technology Conference on Monday (video above). “I think it’s an indication, along with other indications of more labor strife and maybe more tensions, that labor still has a very significant amount of… Source link

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Donald Trump has assailed the government’s official economic data this summer by calling it “phony” or “fake news.” He likes to say the “actual” number for jobs statistics or the inflation rate would be much more flattering to him — and would look worse for President Joe Biden. It’s a return to form for the former president who called the unemployment rate “total fiction” during his 2016 campaign before flipping and touting that same data once he was in office. This time… Source link

Comment on this story Comment We didn’t need the reported two consecutive quarters of declining real gross domestic product —the unofficial determination of a recession—to tell us the US economy is already in, or at least close to, a business downturn. And we certainly don’t need to wait for many months for the official declaration by the National Bureau of Economic Research, the private research outfit that documents business cycles. Data release lags and revisions delay the NBER’s… Source link

The economy is looking pretty dreadful, and that won’t make the Federal Reserve’s job any easier as it tries to engineer a soft economic landing, one top Wall Street economist warns. “I would say that the recent economic data have been central banks’ worst nightmare,” said Citi Global Chief Economist Nathan Sheets on Yahoo Finance Live (video above). “On the one hand, I would say there is very clear evidence of a slowing in global demand. And on the other hand, there is also clear evidence… Source link

Donald Trump’s widely expected 2024 campaign — which he could formally announce as early as this year — appears likely to focus on upending Washington’s bureaucracy. The former president and his allies would put thousands of government employees in their sights who are traditionally insulated from politics. On Tuesday, during a summit in Washington, Trump and his top political allies sketched out an economic component of their attacks on bureaucracy, targeting an old GOP villain:… Source link

This post was originally published on TKer.com. Federal Reserve Chair Jerome Powell reiterated the central bank’s top priority right now: Bringing down inflation. “It’s unconditional, our commitment,” Powell told the House Financial Services Committee on Thursday. He also acknowledged that the Fed’s efforts could come with some economic pain. When asked about the likelihood of the economy falling into recession as a consequence, Powell told the Senate Banking Committee on Wednesday:… Source link

Despite most gambling tickers hovering near 52-week lows as recession warning sirens blare louder, the sports gambling sector could be an attractive play through the rocky economic environment, according to one analyst. “The churn rates have been pretty low,” Macquarie Analyst Chad Beynon said on Yahoo Finance Live recently (video above). “The engagement, the retention of the tech that we’re seeing out there has been pretty good, and there haven’t been any new companies to come in the… Source link

Wednesday’s decision by the Federal Reserve to hike interest rates by 75 basis points was its biggest hike since 1994, and economists are starting to digest what a paradigm change it is. One of the world’s most prominent Fed watchers, Mohamed El-Erian, chief economic adviser of financial services firm Allianz and president of Queens’ College at Cambridge, says it’s part of a “great awakening” for central banks, as several others took action this week. For instance, the Swiss… Source link