What to expect in a typical recession

There has been a lot of chatter recently about the possibility of a recession. Yet what exactly does that mean — and what would a potential downturn look like? A recession is defined as “a significant decline in economic activity that is spread across the economy and that lasts more than a few months,” according … Read more

Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest … Read more

Inflation and recession fears are squeezing some industries more than others

A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Jim Watson | AFP | Getty Images People still appear willing to shell out to travel, go to the movies and have a drink … Read more

After another big weekly loss, assessing whether stocks are cheap and a buying opportunity is near

Stocks are emphatically on sale, but are they cheap? Markdowns are not always the same as bargains. Much depends on the original price and quality of the goods. And even with last week’s price drops on Wall Street, it’s tough to say yet that the market is broadly cheap. But value seems to be emerging … Read more

Businesses are preparing for a crypto winter—here’s what that means

Companies are showing concerns of a recession, and in the crypto space, many are preparing for a crypto winter. Coinbase is laying off 18% of its workforce, or roughly 1,100 people, according to an email sent to employees Tuesday morning. CEO Brian Armstrong said the company grew “too quickly” during a bull market and expressed … Read more

No need for concern over higher yields in euro zone

German Minister of Finance Christian Lindner said there is no need for concern about the stability of the euro zone. John Thys | afp | Getty Images LUXEMBOURG — There is no need for markets to be worried about the stability of the euro zone, Germany’s finance minister told CNBC Thursday following a recent surge … Read more

Bank of England hikes rates for the fifth time in a row as inflation soars

LONDON — The Bank of England on Thursday implemented a fifth consecutive hike to interest rates as it looks to rein in soaring inflation. The Monetary Policy Committee voted 6-3 to increase the Bank Rate by 25 basis points to 1.25%, with the three dissenting members voting for a 50 basis point hike to 1.5%. … Read more

Inflation augurs record 2023 Social Security cost-of-living adjustment

Image Source | Getty Images New government inflation data came in hotter than expected last week. If record-high prices don’t subside, that will lead to a higher Social Security cost-of-living adjustment in 2023. Yet even with a more generous boost to benefits next year, there’s a growing campaign to change the way those annual benefit … Read more

Global markets are tanking ahead of a huge week for central banks

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, June 1, 2022. Brendan McDermid | Reuters LONDON — Global stock markets are falling sharply after May’s US inflation print reignited fears that central banks will be forced into aggressive monetary policy tightening. Friday’s highly-anticipated consumer price index … Read more

Stocks retest the lows with investors facing an aggressive Fed, consumers in fuel mood

Lily Tomlin might have been talking about today’s stock market when she said, “No matter how cynical you become, it’s impossible to keep up.” Wall Street for months has been working to take a dimmer view of the future, brace for uncomfortably corrosive inflation and dampen its optimism on the economy. Yet so far these … Read more