Topline The stock market moved higher on Thursday despite U.S. economic growth contracting for the second quarter in a row, a significant recession indicator which spooked markets—though most experts argue that the economy is yet to fall into a true recession thanks to solid job growth and consumer spending. Investors are unsure what to make…
Topline The stock market jumped on Wednesday after the Federal Reserve raised interest rates by 75 basis points for the second consecutive month in a row, with Fed Chair Jerome Powell hinting that the central bank could slow the pace of rate hikes later this year. Markets are widely expecting the central bank to raise…
Topline The stock market moved slightly higher on Wednesday morning thanks to a boost from Big Tech stocks like Microsoft and Alphabet, which both rallied despite missing earnings estimates, while investors look ahead to an upcoming rate hike decision from the Federal Reserve this afternoon. Markets are widely expecting the central bank to raise interest…
The U.S. dollar has been the world’s dominant currency for three-quarters of a century, and though it may not be apparent to inflation-wracked Americans, the currency maintains more purchasing power than most of its major rivals. That’s helpful to U.S. consumers, though it comes at a cost. Inflation is diminishing the value of the euro,…
More Covid lockdowns in China would be “another headache” for the Federal Reserve in its battle against inflation, experts say, though global supply-chain bottlenecks are easing. If there’s any indication that what happens next in China is a big deal for the U.S. economy, it’s that Federal Reserve officials mentioned the country’s Covid-related lockdowns eight…
Few places seemed more risky during the early, pre-vaccine peaks of the Covid-19 pandemic than nursing homes and senior housing facilities. That includes Arbor Court Retirement of Topeka, the oldest retirement community in Topeka, Kansas. “There was a lot of fear,” says Linda Clements, the director of business development at Arbor Court of Topeka, an…
Topline The U.S. labor market—one of the economy’s strongest pillars during the pandemic recover—added back 372,000 jobs in June, performing better than economists projected amid concerns the Federal Reserve’s efforts to combat inflation will plunge the economy into recession and push unemployment up for years. The monthly jobs report comes one day after career services…
Topline Federal Reserve officials reaffirmed their commitment to fighting inflation with big rate hikes and pledged to use “more restrictive policy” as needed, especially amid “significant risk” that high consumer prices could become “entrenched” for longer, according to the minutes from the central bank’s latest policy meeting. Fed officials could raise rates by 50 or…
As it worked to bring interest rates back toward neutral in the face of too-high inflation, before reassessing conditions, the U.S. Federal Reserve has been somewhat data-independent barring a “break the glass” moment. The Fed appears to have arrived at that moment. The Fed slammed on the inflation brakes hard on June 15, raising rates…
Topline The stock market rebounded strongly on Friday, posting its first positive week this month as recession fears subsided somewhat thanks to positive economic data suggesting that inflation may have peaked, while some experts expressed optimism about the health of the economy. “It seems Wall Street is starting to believe that even if the economy…