U.S. economy grew at a 2.8% pace in the second quarter, much more than expected
Gross domestic product in the second quarter was expected to show a 2.1% annualized increase.
25Jul
24Jul
Why an indicator that has foretold almost every recession doesn’t seem to be working anymore
Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York, US, on Thursday, May 16, 2024. Alex Kent | Bloomberg | Getty ImagesWall Street's favorite recession signal started flashing red in 2022 and hasn't stopped — and thus far has been wrong every step of...
22Jul
How Biden’s unpopular economic record could be a challenge for Kamala Harris
As the frontrunner for the Democratic party's nomination, Kamala Harris will have to run, for better or worse, on President Joe Biden's economic record. That could be problematic for the vice president, who is being regarded as the near-certain replacement for Biden on the party ticket. While Biden-Harris can...
17Jul
Turkey lands first place for wealth growth in global ranking despite soaring inflation
Golden Horn and Bosphorus at sunset, Istanbul, TurkeyMatteo Colombo | Digitalvision | Getty ImagesTurkey came out miles ahead of the rest of the world in an annual global wealth ranking — in a result that may come as surprising, given the country's high levels of inflation."Türkiye stands out with...
16Jul
Trump says he would let Fed’s Powell finish term if he wins: report
Republican presidential nominee and former U.S. President Donald Trump raises his fist during Day 1 of the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 15, 2024. Elizabeth Frantz | ReutersDonald Trump will allow Federal Reserve Chair Jerome Powell to complete his term at the...
16Jul
IMF sees ‘bumps’ in path to lower inflation
The International Monetary Fund warned Tuesday that upside risks to inflation have increased, calling into question the prospect of multiple Federal Reserve interest rate cuts this year. In its latest World Economic Outlook update, the IMF said "the momentum on global disinflation is slowing, signaling bumps along the path." The...
16Jul
IMF World Economic Outlook upgrades UK growth forecast for 2024
Seen through the branches of trees in Ruskin Park are the lit porches of terraced period homes and in the distance, the growing development at Nine Elms, on 14th May 2024, in London, England. Richard Baker | In Pictures | Getty ImagesLONDON — The International Monetary Fund on Tuesday lifted...
15Jul
Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates
Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates.Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with "long and variable lags" to explain why the Fed wouldn't...
15Jul
Watch Fed Chair Powell’s remarks on interest rate policy, the economy
[The stream is slated to start at 12:30 p.m. ET. Please refresh the page if you do not see a player above at that time.]Federal Reserve Chair Jerome Powell is set to address the Economic Club of Washington, D.C., on Monday as traders look for hints about when the...
15Jul
What a Trump presidency could mean for Europe’s economy
Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024.Eva Marie Uzcategui | Bloomberg | Getty ImagesWith markets in recent weeks cranking up their bets that Donald Trump will win the presidential election, Goldman Sachs...