No Interest Rate Increases for Three Years: Fed
The Fed's Open Market Committee said that the ongoing public health crisis would continue to weigh on economic activity, employment, and inflation.
Unsettled Markets: The Quiz
Uncertainty creates a lot of market volatility. How closely have you been following the 2020 fluctuations?
Japan’s GDP Falls by Record 27.8% in Q2
Japan’s economy entered a recession even before the coronavirus pandemic and could be facing a long road to recovery.
U.S. Consumer Spending Rises 5.6% in June
"The explosion of COVID-19 infections ... is casting doubt on the magnitude of the expected surge in third-quarter consumer spending."
U.S. Economy Shrinks by Record 32.9% in Q2
“It’s a very deep and dark hole and we’re coming out of it, but it’ going to take a long time to get out.”
U.S. Durable Goods Orders Jump 7.3% in June
“The sugar rush from re-openings has now faded and a resurgence of domestic coronavirus cases ... will weigh heavily on business investment."
U.S. Consumer Spending Plunges Record 7.5%
The March decline in spending "is the tip of the iceberg. The worst is yet to come with the April data.”
U.S. GDP Sinks 4.8% As Virus Ends Expansion
“If the economy fell this hard in the first quarter, don’t ask how far it will crater in the second quarter because it is going to be a complete disaster."
U.S. Retail Sales Plunge Record 8.7% in March
With coronavirus lockdowns starting only in the middle of March, "far worse is to come in April and the second quarter more generally."
Democrats Balk at Trump Payroll Tax Proposal
“What they want to do is hit Social Security like a wrecking ball with a massive tax cut for the country’s biggest corporations."
U.S. Consumer Spending Increases 0.2% in January
“Consumers shielded the economy from global headwinds for most of 2019 but they won’t prove immune to the coronavirus outbreak."