Articles Tagged with ''U.S. economy''

Fannie Mae downgrades economic forecast citing "ratcheting up of trade tensions"

Says 2020 will be the worst year since the Great Recession
Fannie Mae downgraded its forecast for U.S. economic growth, citing a "ratcheting up of trade tensions," and said 2020 will see the worst economy in more than a decade. The mortgage giant revised its projection for GDP growth to 1.5% for next year, which would be the worst performance since a 2.5% contraction in 2009, according to data from the Bureau of Economic Analysis.
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Dueling polls on Fed's next move suggest the safe bet is a July rate cut

Only 2 out of 46 economists in WSJ poll say the FOMC will act at next week's meeting
Traders in futures markets are signaling a 22.5% probability of a Fed rate cut next week and an 86% chance of a cut at or before its July 30-31 meeting, according to CME Group. Economists polled by The Wall Street Journal gave a different picture: About 0.5% said they expect a move next week and 40% pegged it to the July gathering. That makes July the safe bet, with perhaps language added to the FOMC’s June statement aimed at reassuring markets.
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Jobs Report: Private sector hiring slows as construction, manufacturing shed jobs

Companies add fewest jobs in 18 months
The pace of hiring slowed in March as employers fretted about a slowing economy. Companies hired 129,000 employees, the slowest pace in 18 months, according to a report today from ADP and Moody's Analytics. Goods-producing jobs, such as construction and manufacturing, contracted for the first time since December 2016.
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JPMorgan Chase chief economist bets against 2020 recession

"The economy is slowing, but it is not going to go into a recession"
Anthony Chan, chief economist at JPMorgan Chase, is confidently forecasting 2% economic growth in the year ahead and shooting down fears of a looming recession. Speaking before a packed room at Chicago Agent Magazine's Accelerate Summit at the Chicago Merchandise Mart on Tuesday, Chan predicted the U.S. economy will grow in 2019, just not as rapidly as it did last year.
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Yet another sign from the housing market of a looming recession

Single-family housing authorizations show persistent declines
A number of market analysts have pointed to signs of weakness in the U.S. housing market as an indicator of a possible economic recession ahead. A slowdown in the housing market – evident by dampening home price growth, a decrease in home sales, and a downturn in housing starts – can be a key signal of the wavering health of the overall economy. Now, the housing market has revealed yet another sign of a potential economic instability: a persistent decline in single-family housing authorizations.
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Economists: There's now a 25% chance of a recession in the next year

Reuters poll shows growing concern over a future recession
A new poll from Reuters shows that there's a 25% chance of a recession in the next 12 months. "There is a lot of uncertainty and there are some good reasons to forecast a slowdown in 2019 as compared to in 2018," Jim O’Sullivan, chief U.S. economist at High Frequency Economics, told Reuters.
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Goldman Sachs economist claims little chance of recession in the next 3 years

Daan Struyven's research indicates the U.S. economy is only midway through its expansion
Worried about the coming recession? Don't be. Goldman Sachs is calling bull on all the bearish naysayers out there. According to the famed firm, the U.S. is only in the middle of its economic expansion and the possibility of a recession in the next three years is “below average.”
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Freddie Mac: Mortgage rates reach highest level since May

Mortgage rates inch forward for fourth consecutive week
Mortgage rates inched forward for the fourth consecutive week, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said the 30-year fixed-rate mortgage increased once again to its highest level since May.
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The jury is in: This cycle ends in 2020

Wall Street Journal survey reveals 59% of economists predict a slowdown in 2020
We have been hearing about this for a while now, but the jury is finally in: Most economists predict this up cycle will end in 2020. America may have less than two fat years to make hay while the sun is still shining on the economy.
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Who cares if the Dow hit 20K? Not most of us

Nearly half of American adults don’t own stocks, so why should they care?
On the floor of the New York Stock Exchange, at the offices of investment brokers, and in corporate boardrooms throughout the country, there were hearty celebrations on Wednesday morning as an artificial number hit an arbitrary target. People doffed cheap embroidered hats. They poured Champagne. Frivolity was the order of the day. But for the rest of us, the Dow hitting 20,000 doesn’t mean a damn thing.
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