US Economy

Hot job market and Great Resignation persist despite recession threat

Mixetto | E+ | Getty Images Workers are still reaping the benefits of a hot job market characterized by few layoffs, ample job openings and a high level of voluntary departures, according to US Department of Labor data issued Wednesday. The numbers reveal that the pandemic-era trend known as the “Great Resignation” is still in …

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Former US trade negotiator expects a ‘modest’ rollback of China tariffs

President Joe Biden could decide “pretty soon” on a modest relief package to roll back some US tariffs imposed on China in an effort to tamp down inflation, said Clete Willems, who previously served as deputy director at the National Economic Council. “What we are expecting that the president is deciding on is a relatively …

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US, UK, Europe, Japan will be in recession over next 12 months: Nomura

Thomas Calomiris, a third generation produce vendor, weighs an onion at Eastern Market as the US struggles with rising inflation May 20, 2022, in Washington, DC. Brendan Smialowski | AFP | Getty Images Many of the world’s leading economies will fall into a recession within the next 12 months as central banks move to aggressively …

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Kevin O’Leary says there’s no evidence of a recession right now

The US economy is much stronger than people think, and there’s “no evidence” of an impending slowdown or recession yet, says celebrity investor Kevin O’Leary. “I’m not saying we won’t get one, but everybody that’s saying it’s coming around the corner next week is just wrong,” he told CNBC’s “Squawk Box Asia” on Thursday. “There’s …

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100 bps rate hike is ‘medicine to stop this inflation’

Wharton’s Jeremy Siegel is calling for a 100 basis point rate hikeand says markets may be “close to the bottom.” A 100 basis point rate hike by the Federal Reserve on Wednesday will be “medicine to stop this inflation,” the Wharton professor of finance at the University of Pennsylvania told CNBC on Wednesday. “The Fed …

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Inflation augurs record 2023 Social Security cost-of-living adjustment

ImageSource | Getty Images New government inflation data came in hotter than expected last week. If record-high prices don’t subside, that will lead to a higher Social Security cost-of-living adjustment in 2023. Yet even with a more generous boost to benefits next year, there’s a growing campaign to change the way those annual benefit adjustments …

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Consumers changing eating, shopping habits as inflation pushes up prices

A man shops for meat at a Safeway grocery store in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. JimWatson | AFP | Getty Images The highest inflation in roughly 40 years is prompting people to shift their shopping habits, especially at the grocery store. …

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FDA decision on Novavax’s Covid shots could be delayed

A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. Patrick Van Katwijk | Getty Images The Food and Drug Administration needs to review changes to Novavax‘s manufacturing process before it can authorize the biotech …

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