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The Latest Breaking News from Recession

Powell says recession 'a possibility' but not likely

Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.

WEKU

Powell says soft landing ‘very challenging,’ recession possible

Federal Reserve Chair Jerome Powell gave his most explicit acknowledgment to date that steep rate hikes could tip the US economy into recession, saying one is possible and calling a soft landing “very challenging.”

Tribune News Service

Fed chair says recession a "possibility" amid inflation battle

"It is not our intended outcome at all," Powell told lawmakers on Wednesday.

Axios

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Yes, a recession looks inevitable. But it may not be that bad. Here’s why

WASHINGTON — Whether it’s President Joe Biden insisting a recession is avoidable or his critics arguing that the wolf is at the door, both sides are acting as though the nation faces an unprecedented catastrophe.

Los Angeles Times

Now is a Great Time to Pick Up This Passive Income Stock

The surging inflation and the Fed’s efforts to tame it by aggressively hiking interest rates have led to many analysts forecasting a recession later this year. Investors must consider picking up stocks that generate passive income in an uncertain economic environment. Medtronic (MDT) recently announced an 8% increase in its…

StockNews.com

Without a proper plan, stagflation will be the least of Britain’s problems

Rising prices and recession mean the last thing the government should do is muddle through and leave everything to the market, writes economics editor Larry Elliott

The Guardian - UK

Powell: Fed will decide on rate hikes 'meeting by meeting'

Federal Reserve Chair Jerome Powell underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession

The Independent UK

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Could Germany keep its nuclear plants running?

Every domestic energy source, including nuclear power, is under consideration as Germany seeks to fuel its economy and ward off a recession considered likely if faltering Russian gas supplies stop completely.

Reuters

Which Stocks Should You Consider As Recession Hits Retail?

Retail companies have faced multiple headwinds of late, including multi-decade high inflation and persistent supply chain disruptions. With recession fears looming, many retail companies have lowered their guidance for the current year. However, not all stocks are expected to be weighed down by the recession. Kroger (KR) has raised its…

StockNews.com

Kuwait Looks Forward to Invest in US Infrastructure

The Kuwait Investment Authority (KIA) is waiting for a further expected decline in global markets before deploying investments and believes that will be by the end of the year, Managing Director Ghanem al-Ghenaiman said on Tuesday. Speaking at the Qatar Economic Forum organized by Bloomberg in Doha, Ghenaiman said he…

Asharq Al-Awsat

Emir of Qatar Says Global Economy to Shrink by a Third

Emir of Qatar Sheikh Tamim bin Hamad Al Thani warned on Tuesday of a wave of global economic stagnation and inflation that the world has not seen in 45 years, citing a slowdown of growth in the global economy by about a third this year. Speaking at the opening of…

Asharq Al-Awsat

Bitcoin sinks again on recession fears

Bitcoin resumed a fall on Wednesday, moving in tandem with weakening stocks amid mounting concerns about a global recession.

Bangkok Post

Morning mail: bid to halt $16bn gas project to protect Great Barrier Reef, questions over Barilaro job

Wednesday: Activists are seeking to put a stop to the Scarborough development in WA. Plus: Elon Musk warns of US recession

The Guardian - AU

Here's Why This Analyst Slashed Twitter's Price Target By 39%

Rosenblatt analyst Barton Crockett maintained Twitter, Inc (NYSE:TWTR) with a Neutral and cut the price target from $54.2 to $33, below Tesla, Inc (NASDAQ:TSLA) chief's takeover bid. Crockett believed that the absence of the deal would lead to even lower share prices for Twitter. Social media comparables were already hit by a possible weakening ad market likely…

Benzinga

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StockNews.com

2 High-Yield Telecom Stocks to Consider in a Recession

Recession fears are spreading like wildfire amid the skyrocketing inflation and the Fed’s aggressive rate hikes. On the other hand, the telecom industry’s prospects look impressive, thanks to overwhelming demand and solid technological advancements. Thus, we think it could be wise to invest in high-yielding telecom stocks Verizon (VZ) and…

StockNews.com

4 Airlines To Avoid During The Slump

Airline stocks have been plunging despite the robust travel demand as inflation and recession fears weighed on the sector. Therefore, we think it could be wise to avoid fundamentally weak airlines stocks Virgin Galactic (SPCE), Frontier Group (ULCC), Air Canada (ACDVF), and Spirit Airlines (SAVE) now. Keep reading.

Newsroom.co.nz

Do we need to fear another recession?

It came as a surprise to economists, but GDP fell 0.2 percent in the March quarter - is New Zealand in for another recession?

The Independent UK

Fed's Powell facing rising criticism for inflation missteps

Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession

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Daily Mirror

Ken Clarke says UK recession 'almost certain' and blasts Boris Johnson's plan for poor

The Tory former Chancellor, 81, said the 'absurd' £400 payment to all electricity bill-payers had helped him twice in a cost of living crisis that was 'one of the worst I can remember in my lifetime'

The Guardian - UK

Elon Musk says ‘inevitable’ US recession will probably come soon

Musk’s comments, echoing other CEOs, are accompanied by plan to lay off 10% of Tesla’s salaried staff

Benzinga

Is The US On The Brink Of A Recession?

Nearly 70% of academic economists recently surveyed by the Financial Times in partnership with the Initiative on Global Markets at the University of Chicago’s Booth School of Business expect the US economy to fall into a recession in 2023.

The New Daily

More interest rate pain: RBA’s sobering inflation warning to households

Australians must brace for several years of high inflation and rising interest rates, Reserve Bank governor Philip Lowe warned in a speech on Tuesday.

The New Daily

High inflation to persist for ‘some years’, warns Reserve Bank boss

The governor of the Reserve Bank has warned high inflation is likely to persist for years to come as the global economy works through major supply issues.

StockNews.com

5 Dividend Aristocrats To Buy Now

Last week, the Fed raised its benchmark interest rates three-quarters of a percentage point, marking the most aggressive hike since 1994. And with analysts predicting the economy to slip into a recession, we think dividend aristocrats Abbott (ABT), AbbVie (ABBV), Genuine Parts (GPC), Johnson & Johnson (JNJ), and Sysco (SYY)…

Wales Online

Is there any way of escaping recession? Three top economic minds have their say

The labour market is going to be key to how the UK economy performs in the coming months

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