With inflation rising to 7.7 percent and interest rates rising, life is becoming less affordable for most Canadians (except for those who are too wealthy to notice). – Advertisement – And while many economists say we’re headed for an economic downturn, Deloitte’s top economists say there’s no question of a recession right now – though … Read more
Recession in advanced economies may help bring inflation down in India Recessions in advanced economies may benefit India in a “perverse way” as a moderation in global commodities prices will help cool domestic inflation, according to Citigroup Inc.’s head of economics for the country. “India being a net importer of commodities should benefit on the … Read more
Global brokerage and research firm JPMorgan’s recent CIOs survey, conducted by its US Tech team, indicated that IT budgets are expected to contract 1-2% in ‘real terms’ growing 5/6% in nominal terms over CY22/23 vs inflation of 6-8%. The likelihood of a recession has increased rapidly this year as inflationary pressures remained strong and central … Read more
According to some economists, the Bank of Canada’s efforts to contain persistent inflation are increasing the chances of pushing the economy into recession next year. – Advertisement – Experts say consumers should start preparing for contraction now, as layoffs and weak days are looming. Atkinson Institute economist and fellow Armin Yalnizyan told Granthshala News that … Read more
The US economy is likely to slow in 2022 and 2023 but will “narrowly avoid a recession” as the Federal Reserve implements its rate-tightening plan to curb inflation, the International Monetary Fund said. “The policy priority now must be to expeditiously slow wage and price growth without precipitating a recession” the IMF said in a … Read more
(The Hill) — Federal Reserve Chair Jerome Powell acknowledged Wednesday that the central bank’s battle against high inflation could tip a so-far resilient U.S. economy into a recession. Testifying before the Senate Banking Committee, the Fed chief ceded that the bank’s ongoing series of interest rate hikes could slow the economy enough to halt job … Read more
More pain ahead for global risk assets Global financial markets have been savaged on worries that major central banks’ more aggressive interest rate hikes to fight decades-high inflation would tip world economies into recession. The recent uptick in risk assets seems to be a pause before the plunges and a clear pointer to high volatility … Read more
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession. Testifying to the Senate Banking Committee, Powell faced skeptical questions from members of both … Read more
Elon Musk has said 10 per cent job cuts will happen in Tesla Elon Musk, CEO of Tesla, said a 10 per cent cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a US recession was more likely than not. His remarks were his most detailed explanation … Read more
US Treasury Secretary Janet Yellen has ruled out fears of a recession Amid threats of a US recession, the country’s Treasury Secretary Janet Yellen has said that though the economy may slow down in the coming months, “a recession is not inevitable”. Her optimism is in stark contrast to economists’ fears of a recession fuelled … Read more
