Summary
This page provides some reports about the economy for the United States and the world.
Fortune (16 Oct 2022)
“The economist who just won the Nobel Prize warns the Fed will cause ‘all kinds of trouble’ if it continues on its current path” — The University of Chicago has long been known for its roster of distinguished economists, including Douglas Diamond, who just shared the Nobel Prize in Economics with former Fed Chair Ben Bernanke and Diamond’s frequent collaborator, Philip Dybvig of Washington University in St. Louis. Since Diamond’s a specialist in the economics of banking, I wanted to get his view on the inflationary surge and the Fed’s desperate race to tame it. On Oct. 11 we spoke at length by phone. Diamond quickly noted that central bank’s moves do exert a huge impact on the lending ecosystem. And he expressed strong opinions on what he regards as the Fed’s big recent mistakes in promoting easy money, and the potential perils of tightening too fast in its quest to tame the raging consumer price index. [More]
NBC News (16 Oct 2022)
“Nationwide Traffic Jams Return As Workers Commute Back To The Office” — In the wake of peak-Covid lockdowns, highways across the country are slammed again by stand-still traffic. From new peak traffic times to mounting congestion in the suburbs to a shift in how people are commuting, NBC News’ Maggie Vespa explains how traffic has changed as workers return to the office.
Deutsche Welle (14 Oct 2022)
“Forecast by the IMF shows Germany and Italy are to tumble into recession in 2023” — The International Monetary Fund (IMF) on Tuesday predicted that Germany and Italy would both tip into recession next year, as it also lowered its global growth forecast.
PBS NewsHour (14 Oct 2022)
“Why gas prices are so much higher in California and how the state is reacting” — Gas prices in much of the country have dropped substantially this fall. But in California, it’s been just the opposite. Prices there are pushing some residents to the edge, and the record costs are raising concerns about whether price gouging is to blame. William Brangham looked into the state government’s response and discussed it with business and public policy professor Severin Borenstein.
ABC News (11 Oct 2022)
“Dire warning about the economy” — The CEO of America’s largest bank said a recession is likely in the coming months, as stocks continue to slide. ABC News’ Rhiannon Ally has the details.
CNBC (20 Sep 2022)
“Will This Recession See Massive Layoffs?” — From red-hot inflation to a strong jobs market, and all the negative gross domestic product in between, economists are divided on the health of the U.S. economy. A top concern for Americans: Are there layoffs on the horizon? Economists break down the data and economic indicator complexities brought upon by the Covid pandemic and the war in Europe.