Recession this year is likely, experts say, but it could be avoided or minimized if the wealthy keep spending despite falling stocks and inflation.
Author: Paul Davidson, USA TODAY
March jobs report: Economy added 236,000 jobs as hiring slowed, unemployment fell to 3.5%
U.S. employers added 236,000 jobs in March as hiring slowed for second month amid high inflation and interest rates. Unemployment fell to 3.5%.
More industries are losing jobs. Is it a blip or economic red flag ahead of jobs report?
A growing share of industries is shedding jobs, a possible clue that employment growth is slowing ahead of a government jobs report on Friday.
Retail and fast food jobs with rising pay lure older workers into roles once filled by teens
More older workers are seeking fast-food and retail jobs deemed the province of teens and young adults. The trend is helping ease labor shortages.
JOLTS job openings data fell to a 21-month low in February, a sign labor market is cooling
Job openings fell to 9.9 million in February, the lowest since May 2021, while quitting picked up in a sign the labor market is gradually cooling.
Banks may be hiking savings rates to hold on to customers amid SVB crisis
Some banks are sharply lifting the interest they pay on savings accounts, CDs after Silicon Valley Bank crisis sparked big outflows of deposits
Will they or won’t they? 4 reasons Fed will raise rates again amid SVB crisis, 4 reasons it won’t
Most economists expect the Fed to lift interest rates by a quarter point despite the SVB crisis but some disagree. Reasons for and against a hike.
SVB fallout: Yellen tells Congress that banking system ‘remains sound,’ savings ‘remain safe’
After Silicon Valley Bank’s collapse, banking system ‘remains sound,’ depositors’ savings ‘remain safe’ due to U.S. action, Treasury Sec. Yellen says
What does the Silicon Valley Bank collapse mean for the economy? Experts expect modest dip.
SVB’s collapse and banking stress will likely reduce GDP growth slightly, by 0.2 to 0.3 percentage points. Banks will likely be more hesitant to lend.
Some economists expect Fed to keep interest rates unchanged amid Silicon Valley Bank crisis
Some economists expect the Fed to keep its key interest rate unchanged amid concerns about financial stability after the Silicon Valley Bank crisis.