ECONOMY
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Atlanta Fed lowers Q2 GDPNow estimate to negative territory
Panuwat Dangsungnoen/iStock via Getty Images The Atlanta Fed’s GDPNow model sees Q2 real GDP growth of -1.0% as of June…
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Consumer spending rises less than expected in May, PCE price index moderates
fizkes/iStock via Getty Images May Personal Income and Outlays: +0.5% M/M vs. +0.5% expected and +0.5% prior (revised from +0.4%).…
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Number of homes for sale jump in June, signaling slightly cooler market
The number of homes available to buyers climbed almost 19% in June, surpassing typical pre-COVID levels, and posting its biggest…
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Focus on defensives for a U-shaped second-half recovery (SP500TR)
uschools/E+ via Getty Images The S&P 500 total return (SP500TR) is on track for its worst start of the year…
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ECB’s Lagarde casts doubt on a return to low inflation environment
Thomas Lohnes/Getty Images News How is the economy going to deal with a possible onslaught of interest rate hikes? That’s…
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Fed’s Mester opts for 75-basis point rate hike in July as sky-high inflation persists
Rob Kim/Getty Images Entertainment As U.S. consumer price inflation remains persistently high, Cleveland Fed President Loretta Mester said Wednesday that…
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Fed boss Jerome Powell: Soft landing is feasible but will be ‘quite challenging’
Win McNamee/Getty Images News Federal Reserve Chairman Jerome Powell believes achieving a soft landing is possible but it will prove…
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Upstart downgraded to Underweight at Morgan Stanley as rates rise (NASDAQ:UPST)
alexsl/iStock via Getty Images Upstart Holdings (NASDAQ:UPST) stock is sinking 9.3% in Wednesday premarket trading after Morgan Stanley analyst James…
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Guggenheim’s Minerd says central banks will press until they break something
Dimitrios Kambouris/Getty Images Entertainment Guggenheim Partners Chief Investment Officer Scott Minerd said he expects that central banks will continue to…
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Taming inflation doesn’t conflict with Fed’s goal of full employment: SF Fed’s Daly
Bet_Noire/iStock via Getty Images The Federal Reserve hasn’t put its goal of price stability over that of full employment, said…
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Lessons from the past show need to stay ahead of inflation, St. Louis’s Bullard says
Chung Sung-Jun/Getty Images News St. Louis Fed President James Bullard said in an essay dated Tuesday that lessons from 1974…
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Economic momentum seen keeping U.S. out of recession in 2022, S&P Global says
Lazy_Bear/iStock via Getty Images S&P Global Ratings (SPGI) expects momentum to keep the U.S. economy from tipping into a recession…
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Wolfe Research’s stock market bottom checklist: seven noes and a maybe
Saran_Poroong/iStock via Getty Images The stock market’s (NYSEARCA:SPY) (QQQ) performance last week was a bear market rally off deeply oversold…
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Recent stock rally could put the Fed in a fighting mood
Douglas Rissing/iStock via Getty Images FOMC members may have been dismayed by equity action last week, as stocks broke a…
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Midsize businesses are sour on the economy, optimistic on their own prospects
Chattrawutt/iStock via Getty Images Faced with surging inflation, higher interest rates, labor shortages, and persisting supply chain issues, midsize business…
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Work-from-home could ease pressure on inflation, according to new research (NYSEARCA:WFH)
Alistair Berg/DigitalVision via Getty Images The shift to remote work, triggered by the COVID-19 pandemic, could help make the Federal…
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U.S. supply-driven inflation surge spells trouble for Fed’s soft landing wish
JLGutierrez/E+ via Getty Images Supply-related factors including a tight labor market, production constraints and shipping delays triggered around a year…
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U.S. keeps top credit rating at Moody’s; outlook stays at stable
blackred/E+ via Getty Images The U.S. has kept its Aaa long-term issuer rating and senior unsecured ratings as Moody’s affirmed…
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San Francisco Fed’s Daly sees raising policy rate beyond neutral
Takako Hatayama-Phillips/iStock Editorial via Getty Images “I see further tightening beyond neutral as the next necessary steps,” said San Francisco…
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Demand for vacation homes dips below pre-pandemic levels, Redfin says (NYSE:DHI)
JohnnyGreig/E+ via Getty Images In the wake of higher home prices, rising mortgage rates and looming recession risks, demand for…
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Banks pass Federal Reserve’s stress test in event of severe recession
William_Potter/iStock via Getty Images All banks passed the Federal Reserve’s stress test, indicating that they would have enough capital to…
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Biden administration cancels $6B of student loans for defrauded borrowers
Some $6B of federal student loans, affecting 200K former students who attended schools that showed signs of “significant misconduct,” will…
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Fed’s Powell says commitment to fighting inflation is ‘unconditional’
Federal Reserve Chair Jerome Powell told lawmakers on Thursday that his commitment to fighting inflation is “unconditional,” as achieving stable…
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Federal Reserve’s Powell sees continuing rate increases as appropriate: Senate testimony
Alex Wong/Getty Images News Federal Reserve Chair Jerome Powell reiterated in his semi-annual Monetary Policy Report to Congress on Wednesday…
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Fed’s Harker says neutral rate should be above 3% by end of 2022
Douglas Rissing/iStock via Getty Images Philadelphia Fed President Patrick Harker said Wednesday that the central bank should get to the…
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Rally fizzles as stock futures slide before Powell testimony; Bitcoin under $20K
Diego Thomazini/iStock via Getty Images That didn’t last long. U.S. stocks pulled off a strong rally on Tuesday, with the…
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Richmond Fed’s Barkin says risk of recession is looming
Bet_Noire/iStock via Getty Images Richmond Fed President said Tuesday afternoon that a risk of a recession are looming as the…
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Fed’s Barkin says central bank needs to lift rates quickly without ‘breaking’ anything
tupungato/iStock via Getty Images In order to bring inflation down to the Federal Reserve’s 2% average inflation target, it must…
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A ’70s style recession would push S&P 500 to 2,525
busypix/iStock via Getty Images A recession is 74% priced into stocks and there is a remote chance economic conditions could…
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Top stocks insulated from risk with recession not fully priced in
LilliDay/E+ via Getty Images Multiples and earnings estimates are falling, but a recession is yet to be fully priced, Morgan…
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Recession, cyberattack concerns, margin compression top CEO concerns: Conference Board
courtneyk/E+ via Getty Images Some 76% of CEOs globally expect a recession in in the next 12 to 18 months,…
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Fed’s rate hikes will take a couple of years to bring inflation to 2%, Mester says
Rob Kim/Getty Images Entertainment Last week, the Federal Reserve increased its key interest rate by 75 basis points, 25 bps…
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Inflation is too high; gas tax holiday is worth considering, Janet Yellen said
Alex Wong/Getty Images News Bringing inflation down while keeping the labor market strong “is going to take skill and luck,…
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White-hot housing demand cools to red-hot as mortgage rates, inflation rise
Phillip Spears/DigitalVision via Getty Images The white-hot housing market that only intensified during the pandemic is starting to ease as…
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Tech layoffs signal worries ahead for the economy
pcess609/iStock via Getty Images Much ink has been spilled in recent weeks about the state of the economy and whether…
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White House
lucky-photographer/iStock via Getty Images President Joe Biden’s team and congressional Democrats are in advanced talks on legislation that seeks to…
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Number of high-quality refi candidates dwindles as mortgage rates rise: Black Knight
Bill Oxford/E+ via Getty Images Black Knight data shows just how much of an impact higher mortgage rates are having…
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Treasury yields face major swings ahead as rates rise, but recession fears grow
G0d4ather/iStock via Getty Images Treasury yields are stabilizing early Friday after seeing volatile moves this week. The 10-year Treasury yield…
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Financial system is strong, but vulnerabilities remain, Fed says in report
Douglas Rissing/iStock via Getty Images Overall, the financial position of many U.S. households has continued to improve since December, but…
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Here’s where politicians will switch focus from high prices to struggling 401Ks
inhauscreative/E+ via Getty Images The hand-wringing in Washington over inflation could switch to dismay about wealth destruction in as few…
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The stocks recession manual from Goldman Sachs
LilliDay/E+ via Getty Images Goldman Sachs does not predict a U.S. economic recession, but the equity team has a playbook…
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Fed vice chair nominee Michael Barr would be committed to bring down inflation
Bet_Noire/iStock via Getty Images Michael Barr, the nominee for Federal Reserve Vice Chair for Supervision, said, if confirmed, he would…
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Godman Sachs’ Solomon is closely watching credit spreads for danger signs (NYSE:GS)
Alex Wroblewski/Getty Images News Goldman Sachs (NYSE:GS) CEO David Solomon is keeping an eye on credit markets for signs of…
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Republicans introduce bill to curb asset managers’ power over proxy votes (NYSE:BLK)
Drew Angerer/Getty Images News Senator Dan Sullivan (R-AK) has introduced legislation on Wednesday that seeks to curb big asset managers’…
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Philadelphia Fed’s Harker expects two more 50-bp rate hikes
crbellette/iStock via Getty Images Philadelphia Fed President Patrick Harker expects two more 50 basis-point rate increases, with the Federal Reserve…
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U.S. recession now base case for Wells Fargo
JaysonPhotography/iStock via Getty Images The Wells Fargo Investment Institute said Wednesday it continues to move to defensive positioning on stocks…
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Federal Reserve won’t hesitate to go past neutral ‘if we have to’: Jerome Powell
Samuel Corum/Getty Images News “If we have to go past neutral, we won’t hesitate,” Federal Reserve Chair Jerome Powell reiterated…
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More boxes filled in stock market bottom checklist
DNY59/iStock via Getty Images A stock market bottom is closer but more than half of the needed conditions have yet…
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Goldman cuts U.S. GDP forecast as financial conditions tighten (NYSEARCA:SPY)
Andranik Hakobyan/iStock via Getty Images Goldman Sachs is lowering its expectations for the U.S. economy, while boosting its jobless forecast.…
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Fed will hike rates by 75 basis points in June and July – Nomura
pabradyphoto/iStock via Getty Images Seventy-five basis points is the new 50 basis points. A relentlessly hawkish Federal Reserve is ramping…
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