Things are once again not looking good for the stock market. U.S. stocks fell Tuesday morning just after the S&P 500 had its best week since 2020. In other news, President Joe Biden and Fed Chairman Jerome Powell are set to meet Tuesday to talk about the U.S. and global economies, especially inflation. Simon Baptist, the global chief economist at the Economist Intelligence Unit, recently told CNBC that a global recession isn’t imminent. However, he did warn that we should expect a period of stagflation to stick around for at least the next 12 months.

 

CNBC/Su-Lin Tan
Global recession? Not yet, economists say — but brace for high prices, low growth

A global recession is not imminent, but brace for rising costs and slower growth, economists say.

“There will be no sudden ‘after’ of stagflation,” said Simon Baptist, global chief economist at the Economist Intelligence Unit, referring to a surprise recession after a period of stagflation.

As the war in Ukraine and pandemic disruptions continue to wreak havoc on supply chains, stagflation — marked by low growth and high inflation — will stick around “for at least the next 12 months,” Baptist told CNBC last week.

You can read the full story, here.

 

Yahoo Finance/Alexandra Semenova
Stocks dip as Wall Street struggles to sustain last week’s rallys

U.S. stocks fell early Tuesday after a bounce last week snapped the longest losing streak for the S&P 500 in over 20 years.

The benchmark fell 0.8% following its best week since November 2020, and the Dow Jones Industrial tumbled 380 points, or 1.2%. The Nasdaq Composite declined 0.6%. The moves come after all three indexes logged weekly gains of more than 6%, clawing back from seven consecutive losing weeks for the S&P 500 and Nasdaq and eight weeks of losses for the Dow.

You can read the full story, here.

 

Associated Press/Zeke Miller
Biden to meet Fed chair as inflation bites pocketbooks

President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks.

The meeting Tuesday will be the first since Biden renominated Powell to lead the central bank and comes weeks after his confirmation for a second term by the Senate.

The White House said the pair would discuss the state of the U.S. and global economy and especially inflation.

Continue reading, here.

 

60 Years Experience

REQUEST YOUR FREE
GOLD IRA GUIDE