Home Depot Co-Founder Stands by 'Recession' Label Amidst Shrinking Economy
Summary by NewsWall Jul 30 22
- Home Depot co-founder Ken Langone spoke out on the US recession, soaring inflation, and its impact on 'Your World' on Friday.
- POLITICO declares Biden 'back in the game' as the US enters a recession.
- KEN LANGONE: Inflation is likely the most regressive of all taxes.
- Now, whether you want to call it a recession or not - play with the words. ... This is serious stuff. And we are in a recession.
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| Last Updated | Jul 30 22 |
| Total Articles | 2 |
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As inflation soars, food banks struggle to meet higher demand and skyrocketing prices
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As inflation soars, food banks struggle to meet higher demand and skyrocketing prices
foxnews.com/us/inflation-soars-food-banks-struggle-meet-higher-demand-skyrocketing-prices
JPMorgan warns of need for ‘reality check’ on phasing out fossil fuels: US bank says higher interest rates, inflation and global conflict have dented outlook for ...
ft.com/content/352b38a7-f298-4b54-adc2-f4cc1b17444b
Quick Glance: JPMorgan warns of Need for 'Reality Check' on Phasing out Fossil Fuels
- JPMorgan warns of setbacks in transitioning to renewable energy due to higher interest rates, inflation, and global conflicts.
- Investment in renewable energy currently offers subpar returns, potentially leading to social unrest.
- JPMorgan forecasts increasing demand for oil and gas until 2030, highlighting challenges in transitioning to renewable energy.
- Wood Mackenzie warns of the impact of higher interest rates on transitioning to a global net-zero economy, especially for renewables and nuclear power.
Mortgage rates top 7 percent for first time in 2024: Mortgage rates topped 7 percent for the first time this year, according to data released Friday by Freddie ...
thehill.com/business/4605828-mortgage-rates-top-first-time/
U.S. Mortgage Rates Jump Above 7% for the First Time This Year: Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent ...
nytimes.com/2024/04/18/business/mortgage-rates.html
Stock market today: Stocks slide for the 5th straight session: The S&P 500 hit its worst losing streak since last October as investors recalibrate amid forecasts ...
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usatoday.com/story/money/personalfinance/2023/08/02/how-much-money-americans-need-for-retirement/70507274007/
Billionaire In-N-Out heiress Lynsi Snyder claims she went 'toe-to-toe' to keep prices down as Calif. fast food industry, prices slammed by minimum wage hike
nypost.com/2024/04/11/business/in-n-out-president-lynsi-snyder-went-toe-to-toe-to-keep-menu-prices-down/
More Americans worried about climate change, but few think Biden's climate law will help, AP-NORC poll says
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Why is the economy so strong? New hires are spending more and upgrading their lifestyles
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America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy
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Israel Credit Rating Downgraded by S&P on Heightened Geopolitical Risk: Israel was downgraded by S&P Global Ratings, which joined Moody’s Investors Service ...
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How France Is Fighting ‘Shrinkflation’: Merchants will be required to put signs in front of all products that have been reduced in size without a corresponding ...
nytimes.com/2024/04/19/business/france-economy-food-prices-shrinkflation.html
Macklem Sees Little Impact of Canada Budget on Fiscal Track: Bank of Canada Governor Tiff Macklem said Prime Minister Justin Trudeau’s recent budget did not ...
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Paid articlePaidQuick Glance: Macklem Sees Limited Impact of Canada Budget on Fiscal Direction
- Bank of Canada Governor Tiff Macklem suggested Prime Minister Justin Trudeau’s recent budget, which balanced increased spending with a capital gains tax hike and improved revenue forecasts, did not significantly contribute to inflationary pressures.
- Macklem informed reporters on Friday that the budget did not alter the government's fiscal trajectory significantly compared to the November fiscal update. It was highlighted that Finance Minister Chrystia Freeland upheld her commitment regarding deficit maintenance and shortfall reduction goals for the future.
- The Governor emphasized the continued adherence of the budget to these guidelines, which was deemed beneficial. He refrained from delving into specific details of budget measures, emphasizing the responsibility of lawmakers to deliberate on the government's fiscal plan.
- Macklem expressed that the latest three inflation indicators showed a sustained downward trend, with the bank awaiting confirmation that this trend will persist to ensure the progress towards price stability is maintained.
Bloomberg Evening Briefing: Wall Street Ends the Week in a ‘Tech Wreck’: Get caught up.
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BofA Strategists Say Rates Jitters Are Fueling Stock Outflows: Investors are pulling money out of equities as a strong US economy and sticky inflation fuel ...
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Israel-Iran: Another Mideast Shock for Markets: The revenge cycle shows no sign of letting up. Now, Tehran will weigh the level of escalation.
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Fed Interest-Rate Cut Is Not Likely Until End of Year, Raphael Bostic Reiterates: Federal Reserve Bank of Atlanta President Raphael Bostic said he’s comfortable ...
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Quick Glance: Record: Germans Hold 7716 Billion Euros in Wealth
- German private individuals hold a net wealth of 7716 billion euros.
- Stocks and investment funds saw significant gains in the last quarter.
- Cash and bank deposits remain the largest component of wealth.
- Household net wealth increases by 244 billion euros to 5560 billion euros.
IMF Financial Stability Report: Basis-Trade Section Calls Out Funds’ Bond Wagers: A small group of funds has accumulated such large short wagers in the Treasury ...
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- Israeli Foreign Minister Israel Katz has called on 32 countries to impose sanctions on Tehran as Israel considers a military response to Iran’s attack.
- Israeli military sources reported intercepting 99 percent of aerial threats with assistance from the United States and allies, causing only minor damage.
- Tensions are high as Israel ponders its reaction to Saturday's attack while Germany calls for new sanctions related to Iran's drone supply to Russia for use in Ukraine.
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IMF Says Growth’s Secret Sauce Is American Catch-Up: Data from its latest World Economic Outlook suggest that the more a country’s product and labor markets ...
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Paid articlePaid China Outweighs G-7 as Leading Driver of Global Economic Growth: China will be the top contributor to global growth over the next five years ...
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Shopper sparks outrage after 'paying $7 for a single apple:' 'What economy are we all f--king living in?'
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Quick Glance: Outrage Stirred by Expensive Apple Purchase
- A Boston influencer sparked outrage by sharing that she paid $7 for a single apple at Whole Foods.
- The video clip, shared by the woman under the username @via..li, has since been deleted from her own account.
- Despite Whole Foods listing the Organic Sugarbee Apple at $3.99 per pound in most Boston zip codes, prices may vary at different outlets.
- The TikTokker claimed the apple cost $7, causing outrage among viewers, although some expressed doubts about her story.
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Home Sales in March Had Biggest Decline in 16 Months: Sales of previously owned homes decreased 4.3% from the prior month to a seasonally adjusted annual rate of ...
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Escalating Middle East tensions a fresh jolt to world markets: Reports of an Israeli attack on Iranian soil that possibly drags the Middle East into a deeper ...
reuters.com/markets/global-markets-middle-east-graphic-2024-04-19/
Quick Glance: Escalating Middle East Tensions Shake World Markets
- Reports of an Israeli attack on Iranian soil potentially dragging the Middle East into a deeper conflict have rattled world markets with geopolitical risks.
- Stocks fell, oil briefly rose over $3 per barrel, and safe-haven government bonds rallied.
- The heightened tensions bring fresh uncertainty and fuel concerns that high oil prices and potential supply disruptions will keep inflation high.
- Energy stocks benefit from higher oil prices, while demand for safe-havens like US or German bonds rises amid renewed inflation risks from rising oil.
A $9.5 Trillion ESG Investor Group Wants Private Market Reforms: Global ESG investors with $9.5 trillion under management say it’s time to demand more ...
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Lawrence O'Donnell Scorches Fox's 'Newest Liar' Jesse Watters Over Trump Jury Claim
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Sen. Josh Hawley Hit With Receipts After Gaslighting Gripe On Fox News: The Missouri senator's complaint about infrastructure was interesting ...
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- US mortgage rates have surged above 7%, increasing costs for homebuyers.
- The rise in mortgage rates impacts monthly costs, limiting purchasing power.
- Uncertainty surrounding rate trends poses a decision dilemma for potential homebuyers.
- Experts anticipate a moderate easing of mortgage rates later in the year.
Petrol and diesel back to nearly €2 a litre as drivers hit by biggest price rise this year
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
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Fox News Contributor Trashes ‘Idiot’ Marjorie Taylor Greene In Damning Op-Ed
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Quick Glance: Twelve Jurors Seated in Trump's Hush Money Trial
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- The upcoming trial is anticipated to present unfavorable testimonies regarding Trump's personal life pre-presidency, including accusations of manipulating business records to suppress narratives in the final days of the 2016 election surrounding his intimate relationships.
- Central to the trial is a payment of $130,000 made by Cohen just before the 2016 election to adult film actress Stormy Daniels, aimed at preventing her allegations of a sexual encounter with Trump from being publicized in the campaign's final stretch.
- The selection of the jury holds paramount significance in any criminal proceeding, particularly so when the accused is a former president and the presumed Republican candidate. Potential jurors have undergone extensive scrutiny concerning their online presence, personal backgrounds, and political stances as legal representatives and the judge meticulously scrutinize for partialities that could compromise their impartiality.
How I Did It: Judith Regan Remembers the Day O.J. Simpson (Almost) Confessed: Judith Regan writes about her experience interviewing O.J. Simpson for Fox that was ...
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TSMC Outlook Beats Estimates as AI Demand Helps Propel Business: Taiwan Semiconductor Manufacturing Co. expects revenue to rise as much as about 30% this quarter ...
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Yuan (CNY USD) Usage Making Larger Share of International Payments, Swift Says: The Chinese yuan is accounting for a growing share of international payments ...
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Summers: Another Trump term would bring ‘inflationary spiral,’ big deficits: Former Treasury Secretary Larry Summers warned Wednesday that a second Trump ...
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Ayala’s ACEN to Spend $15 Billion to Quadruple Power Capacity: ACEN Corp., the energy unit of Philippine conglomerate Ayala Corp., expects to spend $15 billion ...
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Citi (C) Holds Call for 125 Basis Points of Fed Rate-Cuts in 2024: Economists at Citigroup Inc. are going out on a limb by wagering that virtually everyone on ...
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Fox News Is Losing Its Mind Over the New “Woke” Scrabble. I Actually Played It. Guess What?!
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US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
ft.com/content/0d098011-0ff5-4125-8cbb-5a5b281c9bd0
Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
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