recession

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Record Number of Americans Have Two Jobs

Government's official count is now nearly 9M

(Newser) - In a world of high prices and increased worries about a recession , the stat might not be a huge surprise: A record number of Americans are now working at least two jobs, according to the official government count. Details:
  • Record high: The Bureau of Labor Statistics said 8.9 million
...

Bessent's New Comments Worsen Mood on Wall Street

Futures are down after treasury secretary calls correction 'healthy' and won't rule out a recession

(Newser) - After falling into correction territory last week—with the benchmark S&P 500 off 10% from its earlier highs—stocks were poised to start the new week with modest declines. Dow futures were down more than 130 points, and USA Today reports that comments from Treasury Secretary Scott Bessent over...

Investors Worry 'Soft Landing' Is Going Off Track

Meanwhile, Dow futures point to modest gains at open after Monday's selloff

(Newser) - It appears the stock market will open in positive territory on Tuesday after Monday's steep selloff , though nowhere near big enough to recoup the losses. Dow futures were up about 100 points, reports CNBC , after losing nearly 900 at Monday's close. A "modicum of calm" also returned...

Fears of a 2025 Recession Are Gaining Steam
Fears of a 2025 Recession
Are Gaining Steam
the rundown
Mar 10, 2025 10:43 AM CDT

Fears of a 2025 Recession Are Gaining Steam

Big banks more pessimistic as Trump declines to rule out the possibility

(Newser) - Wall Street started the new trading week in a foul mood on Monday, with the Dow tumbling about 500 points and the benchmark S&P 500 index down more than 2%. It's a continuation of last week's selloff blamed on tariff uncertainty, but Monday's pain appears to...

Trump Concedes Recession Is Possible

Adjusting to tariffs will take time, president says

(Newser) - President Trump would not rule out the possibility of a recession this year during an interview aired Sunday, saying it "takes a little time" for the economy and Americans to see the benefits of his new tariffs. He discounted the recent stock market losses, contending "you have to...

Financial Contagion Slams World Markets

Japan's index has worst day since 1987 crash, and Dow futures are down 800 points

(Newser) - The stock market ended last week in rough shape thanks to renewed fears of a US recession . Things appear to be getting worse Monday, with Dow futures plunging and world markets in similar shape:
  • In the US: Dow futures dropped more than 800 points, or 2%, reports CNBC . Futures for
...

Wall Street Selloff Intensifies After Jobs Report
Dow Is Plunging
After Jobs Report
Aug 2, 2024 10:50 AM CDT

Dow Is Plunging After Jobs Report

Index down more than 900 points after weak employment data

(Newser) - Friday morning's weak jobs report has led to a selloff on Wall Street: The Dow plunged more than 900 points, or 2.3%, in late-morning trading, while the S&P 500 was off 2.2% and the tech-centric Nasdaq was down 2.4%. In fact, the benchmark S&P...

Lipstick Sales Are Up. Some Take That as a Warning

The not-so-technical 'lipstick index' tends to crop up in recessions

(Newser) - Makeup sales are up—which, according to a groundhog-shadow-like barometer called the "lipstick index," might spell bad news for the economy. CNN explains that the term "lipstick index" was so named by Estee Lauder chairman Leonard Lauder in 2001. He posited that during the economic downturn in...

Yellen: Signs Point Away From Recession

Treasury secretary expresses confidence about economy

(Newser) - Polls show Americans are feeling a bit better about the US economy lately, per the Wall Street Journal , and that includes Treasury Secretary Janet Yellen. Asked if the nation will be able to head off a recession while keeping inflation under control, she told Bloomberg , "I think you'd...

Fed Chair Says US May Have Dodged Recession

Congressional Budget Office is also predicting 'soft landing'

(Newser) - The Federal Reserve believes its policies may have helped the US economy avoid recession and achieve a "soft landing," a possibility analysts once saw as remote. In remarks after the latest interest rate rise was announced Wednesday, Fed Chair Jerome Powell said the central bank is no longer...

2023 Is Now Seen as a 'Turning Point' for Economy

IMF upgrades its world forecast, thinks a global recession is less likely

(Newser) - A new economic forecast includes what has become a rare thing of late: good news. Or, at least, better news. The International Monetary Fund said Monday that it thinks a global recession probably won't happen, reports the New York Times . A number of factors— including easing inflation, China's...

IMF Chief: Get Ready for 'Tougher' Year Than Last

Kristalina Georgieva warns that one-third of world will be in a recession over next 12 months

(Newser) - Thankful to have kicked 2022 to the curb? According to the head of the International Monetary Fund, we haven't yet escaped last year's economic woes, which will continue to play out in significant ways around the globe. "We expect one-third of the world economy to be in...

Model Puts Chance of Recession at 100%

Projection clashes with Biden's reassurances

(Newser) - A new economic projection contradicts President Biden's hopeful forecast of a minor recession, at worst, ahead for the nation. A Bloomberg Economics model shows the likelihood of a recession beginning at some point before October 2023 at 100%. Until now, the model had the chance of a recession at...

IMF's Gloomy Warning: 'Worst Is Yet to Come'

International Monetary Fund predicts next year is going to be painful around the world

(Newser) - Banker Jamie Dimon isn't the only one who thinks a recession is on the horizon . The International Monetary Fund issued its World Economic Outlook on Tuesday, with a bleak takeaway line, per CNN :
  • "In short, the worst is yet to come, and for many people 2023 will feel
...

Jamie Dimon: US Recession Likely Within 6 to 9 Months
Jamie Dimon:
Recession
Lies Ahead
Oct 11, 2022 6:39 AM CDT

Jamie Dimon: Recession Lies Ahead

'This is serious stuff,' JPMorgan Chase CEO says, as Fed didn't do nearly enough in time

(Newser) - The US economy is "actually still doing well" right now, JPMorgan Chase CEO Jamie Dimon said Monday—but that statement comes with a big "but." Dimon, in an interview with CNBC , continued, "you can’t talk about the economy without talking about stuff in the future—...

Wikipedia: Keep Your Hands Off Our 'Recession' Page

Temporary ban is keeping new and unregistered users from tweaking highly contested topic

(Newser) - Are we or aren't we headed for (or already in ) a recession? Consensus is still hard to come by, and Wikipedia has decided it's not going to be the place where this is all hashed out. NPR reports that the online encyclopedia has partially frozen edits to...

Are We in a Recession? 8 People Will Make the Call

But the obscure Business Cycle Dating Committee likely won't weigh in for months

(Newser) - The GDP shrank for the second quarter in a row, which is one traditional definition of a recession, notes CNBC . It is not, however, the official one. As the Wall Street Journal reports, any such designation would formally come from the National Bureau of Economic Research—and more specifically from...

Inflation Surged 9.1% in June, Even More Than Expected

Economists were expecting a 40-year high of 8.8%

(Newser) - The consumer price index for June is worse than expected—and what was expected was bad. The CPI was up 9.1% year-over-year in June, above economists' prediction of 8.8%. Even that estimate was worse than May's 8.6%. The last time inflation was this high was in...

Commerce Chief: Let's Stop 'Talking Ourselves Into a Recession'

Gina Raimondo says a severe downturn is not inevitable

(Newser) - Commerce Secretary Gina Raimondo is worried that talk of a recession will become a self-fulfilling prophecy. In an ABC News interview Sunday with George Stephanopoulos on This Week, Raimondo recounted a recent conversation with an unnamed CEO. "He said, 'The economy's strong. Customers are buying. Businesses are...

Biden: Americans Are 'Really, Really Down'

In interview, president says recession isn't inevitable

(Newser) - President Biden said Thursday that the American people are "really, really down" after a tumultuous two years that included the coronavirus pandemic, volatility in the economy, and surging gasoline prices that are slamming household budgets. In an interview with the AP in the Oval Office, the president also said...

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