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Jul 28, 2022 · C oncerns that the U.S. economy could be heading into a recession intensified after official figures released July 28 showed that the U.S. economy shrank for the second straight quarter, just...
May 4, 2022 · The United States is now facing the familiar precursors of a recession, including rising interest rates on the back of high inflation. The Federal Reserve is taking action, and its decisions will be critical to the length and severity of any recession.
- Focus on budgeting and building an emergency fund. Whether the economy is surging or stalling, it’s important to have enough money set aside so you can still pay your monthly bills in the event of an unexpected job loss or other emergency.
- Prioritize paying off high-interest debt. Shoring up your finances also means tackling debt. “The first thing I would tell people to do is to pay down variable rate debt, like credit card debt,” recommends Marguerita Cheng, a certified financial planner and the founder and CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland.
- Update your résumé. Layoffs and cost-cutting measures are already starting to sweep through the tech and media sectors, which could be a bad sign for other industries.
- Get creative about saving. Think creatively about other ways to save more money. For example, evaluating your insurance options to make sure you have the best option for your personal circumstances could mean the difference of several hundred dollars each year, Cheng says.
Oct 17, 2022 · The model forecasts the likelihood of a recession within 11 months at 73%, up from 30%, and the 10-month probability rose to 25% from 0%. The deterioration in the outlook was driven by a broad ...
Jul 28, 2022 · Is it in a recession? GDP shrank for a 2nd quarter in a row. While two consecutive quarters of negative growth is often considered a recession, it's not an official definition.
- David Gura
Jul 7, 2022 · Recessions in the US are officially declared by a committee of eight economists at the National Bureau of Economic Research (NBER). There is no hard timetable for determining recessions, but it...
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Sep 26, 2022 · Real personal income grew at an average of 0.62% prior to the average recession, while industrial production grew slightly, by 0.05%. Meanwhile, immediately following the onset of the average recession, all six indicators declined, which ultimately persisted for the entirety of the recession.
