Product that tells our story
Parts of the US economy, particularly housing, may already be in recession because of high interest rates, Treasury Secretary Scott Bessent said Sunday, repeating his call for the Federal Reserve to accelerate rate cuts. “I think that we are in good shape, but I think that there are sectors of the economy that are in recession,” Bessent said on […]
Ray Dalio, billionaire founder of one of the world’s largest hedge funds, said on Sunday that President Trump’s trade war has brought the US near to recession. He was asked on NBC’s “Meet the Press” if he thought the world’s largest economy could dip into recession, usually understood as a meaningful decline in output, as a result of […]
US consumer spending for Easter is expected to rise about 5% this year as Americans snap up candy and gifts to celebrate despite concerns around high inflation and economic uncertainty, a National Retail Federation report showed on Tuesday. Shoppers are expected to spend around $23.6 billion this year, compared with $22.4 billion estimated last year, the trade body’s survey showed, with discount stores once again poised to […]
There are “no guarantees” there will not be a recession in the US, although there could be an adjustment, Treasury Secretary Scott Bessent said in an interview that aired on Sunday. But Bessent, speaking to NBC’s “Meet the Press,” ruled out the chance of a financial crisis. US stock markets closed down sharply last week amid mounting uncertainties arising from […]
