Harry Dent Predicts Imminent Market Crash in 2024
Economist Harry Dent is making a dire prediction for the markets in 2024, citing overvalued markets and excessive stimulus spending as causes for concern.
Federal Reserve's Rate Cut Forecasts Spark Stock Rally While Posing Challenges for Savers
The Federal Reserve's announcement of a pause in benchmark interest rates and a forecast of rate cuts next year led to a surge in stock indexes to one-year highs.
US Job Openings Plummet to 8.7 Million in October, Stirring Concerns for Fed's Interest Rate Policy
In October, job openings in the United States decreased significantly to 8.7 million, marking the lowest level since March 2021, according to the Labor Department.
Federal Reserve Signals Possible Pause in Interest Rate Hikes Amid Cooling Economy
Federal Reserve Chair Jerome H. Powell has indicated that the central bank may not raise interest rates further if the economy and inflation continue to cool as expected.
Zurich Tops List of Most Expensive Cities in 2023, Bumping New York to Third Place
The Economist Intelligence Unit's Worldwide Cost of Living 2023 report reveals that New York, Los Angeles, and San Francisco are among the top 10 most expensive cities to live in.
Major Economic Concerns Amid Record Thanksgiving Shopping Weekend
A recent Fox News poll revealed that more than 75% of Americans are worried about the state of the economy.
Biden Administration Utilizes Defense Production Act to Tackle Inflation and Supply Chain Challenges
The White House plans to use the Defense Production Act, a cold-war era law, to address supply chain issues contributing to inflation.
US Consumer Confidence Declines as Inflation Worries and Global Conflicts Weigh on Sentiment
Americans' confidence in the US economy has declined, with the preliminary reading on consumer sentiment for November hitting its lowest level since May at 60.4, below economists' expectations of 63.7.
WeWork Shares Plummet as Bankruptcy Reports Loom
WeWork's stock price dropped nearly 50% to a record low amid reports that the company is considering filing for bankruptcy next week.
McDonald's Sees Shift in Customer Demographics Amid Inflation and Price Hikes
McDonald's has revealed that it is gaining middle- and higher-income customers who are trading down to its menu while simultaneously losing lower-income diners due to high inflation.
Food Insecurity Soars in the U.S. in 2022, Hitting Crisis Levels Amid Economic Challenges
Food insecurity in the United States surged in 2022, reaching levels not seen since the aftermath of the financial crisis, according to government data from the U.S. Department of Agriculture.
Strong Q3 Economic Growth in the U.S. Driven by Consumer Spending Surpasses Expectations
The U.S. economy saw stronger-than-expected growth in the third quarter, expanding at a 4.9% annualized rate, driven primarily by robust consumer spending.
California Sees Ongoing Exodus as Housing Costs Drive Migration to Other States
In 2022, California continued to experience an exodus as more than 817,000 people left the state for other parts of the U.S., while about 475,000 individuals moved to California, resulting in a net loss of approximately 342,000 residents.
Costco CEO Craig Jelinek to Retire, Ron Vachris to Take Helm
Longtime Costco CEO Craig Jelinek will retire at the end of the year, and he will be succeeded by Ron Vachris, who has been with the company for 40 years.
October Consumer Sentiment Declines Amid Rising Inflation and Student Loan Resumption
Americans' consumer sentiment took a hit in October, with the University of Michigan's consumer sentiment index falling by 7% compared to the previous month.
JP Morgan CEO Jamie Dimon Warns of Global Impact Amid Middle East Conflict Escalation
JP Morgan's CEO, Jamie Dimon, has expressed concerns about the escalating conflict in the Middle East, particularly Israel's expected ground offensive on Gaza.
Former Walmart U.S. CEO Observes a Slowdown in Consumer Spending Amid Scarce Bargain Prices
Former Walmart U.S. CEO Bill Simon has highlighted that ongoing inflation and various economic pressures are impacting retailers' ability to offer bargains, leading American consumers to be more cautious with their spending.
Auto Workers' Strike in the US: Beyond Wages - The Battle Over EVs and Ideological Conflict
The ongoing auto workers' strike in the United States goes beyond wage disputes and is rooted in concerns related to the 2009 Obama-era deal that removed cost-of-living adjustments, as well as resistance to President Biden's ambitious plans for Chinese battery-powered vehicles.
Small Businesses Express Concerns to Fed's Powell About Inflation and Interest Rates
Federal Reserve Chair Jerome Powell and Patrick Harker, head of the Federal Reserve Bank of Philadelphia, visited York, Pennsylvania, to hear the concerns of small-business owners grappling with inflation, high interest rates, labor shortages, and post-pandemic economic challenges.
BlackRock CEO Larry Fink Expresses Concern Over Lack of Hope Amidst High Levels of Fear in Financial Markets
BlackRock CEO Larry Fink, a prominent figure on Wall Street, has expressed concern over the high levels of fear he's witnessing among consumers and businesses, which he says is missing the essential ingredient of hope for a healthy financial outlook.