Tag Archives: recession

P Morgan CEO Jamie Dimon looks on during the inauguration of the new French headquarters of US’ JP Morgan bank in June 2021 in Paris.MICHEL EULER/POOL/AFP via Getty Images JPMorgan CEO Jamie Dimon spoke to some of the bank’s wealthy clients on a call Tuesday, Yahoo reported. He said there’s a 20-30% chance of a “harder recession” and equal odds of “something worse.” He described current risks as “storm clouds,” an apparent downgrade from his June warning of a “hurricane.” JPMorgan CEO Jamie… Source link

On Wednesday, the Bureau of Labor Statistics released data showing the Consumer Price Index rose 8.5% over the past year as of July. The number showed inflation had cooled from 9.1% the prior month, somewhat easing fears of a recession. On a recent episode of “Influencers with Andy Serwer,” before the latest inflation numbers were released, ServiceNow (NOW) CEO Bill McDermott predicted that, if a recession comes, it would not pose a long-term threat to the U.S. economy. “I’m actually really… Source link

As the Federal Reserve gets more aggressive in its efforts to curb inflation amid implications from the ongoing COVID-19 pandemic continue to reverberate, Nobel Prize-winning economist Robert Shiller predicts that the cooling housing market is one sign among others that a recession may be on the way. “We have a lot of ingredients that might lead to a recession,” Shiller told Yahoo Finance (video above). “It looks like, since just a few months ago, the talk is really negative.” The… Source link

Commercial real estate is down and hybrid work is a big reason why, according to one real estate executive. According to data from MSCI, commercial real estate transactions fell 22% in the second quarter from a year ago. And while inflation and an economic recession are both weighing heavily on the minds of real estate investors and “creating some hesitation,” Marcus and Millichap CEO Hessam Nadji said that it’s “not really a long-term concern.” “The bigger concern is this hybrid work… Source link

The risk of a recession “is getting higher and higher,” says veteran economist Mohamed El-Erian. “My definition of a recession is a holistic definition. It goes well beyond two quarters of negative GDP,” said the chief economic advisor of Allianz and former CEO of PIMCO. “The labor market is too strong. Consumer spending is too strong. Business balance sheets are too strong. We simply are not in a recession. Is the risk of recession high? Yes, it is high and getting higher,”… Source link

Former Treasury Secretary Larry Summers says he doesn’t think the U.S. is in recession now, but says there’s a 75% chance the economy tips into recession in the next 18 months. “I don’t think we’re in a recession,” Summers told Yahoo Finance in an interview. “[But] given the difficulties associated with high inflation and bringing it down, the necessary monetary policy response, the odds that the economy will go into recession within the next 18 months are quite serious, and… Source link

The U.S. economy could have entered a recession before the calendar turned to 2022. “I wouldn’t be surprised if they [the National Bureau of Economic Research] actually push the start of the recession to the end of last year,” Dreyfus Mellon Chief Economist Vincent Reinhart, who spent spent 24 years in various research roles at the Federal Reserve, said on Yahoo Finance Live (video above). “So we might wind up being in one of the longer recessions on record.” The National Bureau of Economic… Source link

The news on Thursday that gross domestic product (GDP) contracted for two straight quarters intensified fears the U.S. is entering a recession. Earlier this week, former Home Depot CEO Bob Nardelli suggested the country has indeed fallen into a recession — albeit an unusual one. In a wide-ranging interview for Yahoo Finance’s “Influencers with Andy Serwer,” Nardelli contended that the U.S. is still experiencing a downturn even though consumer spending has remained relatively high. “I’ve said… Source link

Are we in a recession? Let the debate begin. When asked whether the U.S. is in a recession, Elyse Ausenbaugh, global market strategist at JP Morgan, told Yahoo Finance Live: “We do not [think so].” “To us, the main things we’re focusing on are ongoing strength in the labor market,” Ausenbaugh added. “Looking into components of GDP, the fact that consumers are still spending in real terms and that things like credit card delinquencies remain at all-time lows is an encouraging sign that,… Source link

Best Buy has become the latest big-name retailer to badly overestimate consumer demand as recession fears mount and shoppers pullback on discretionary purchases. The electronics retailer slashed both its second-quarter and full-year financial forecasts late Wednesday, sending shares lower by 4% in after-hours trading. Best Buy’s downward revisions are tough on the eye to say the very least: 2Q Same-Store Sales: -13% (previous: about -8%) 2Q Operating Margin: 3.7% (vs. 6.9% in second quarter of… Source link