The Cost of Living Adjustment for the 70 million recipients of Social Security benefits will increase by 8.7 percent in 2023, the biggest jump in 40 years.
Read MoreAs job growth decelerates, it is not yet flashing red recession warnings, at least among hiring managers. That said, there are some yellow flashers that indicate an employment slowdown lies ahead.
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The virtuous economic cycle of the post-war decades helped create a large group of households that were able to attain the “American Dream” and became part of what we now think of as the middle class. Today, defining the middle is a bit of a muddled mess.
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We interrupt your gas pump happy dance with rotten news: Inflation, as measured by the headline Consumer Price Index showed that in August, prices were up 8.3 percent from a year ago.
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The post-COVID labor market recovery is like this summer’s weather: SCORCHING.
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Whether or not NBER officially makes the recession call, it’s becoming obvious that a slowdown has begun.
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As the Fed prepares for its two-day policy meeting on July 26 and July 27, there may be a few breaks in the cloudy economic picture for our central bankers.
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Despite the hand wringing over a coming recession and sentiment levels dropping to all-time lows, the June employment report showed that the U.S. economy is alive and well.
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The toxic combination of a four-decade high inflation and the Federal Reserve’s aggressive interest rate hike campaign has increased the odds of a recession within the next year.
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