Powell Says Fed Must Accept Higher Recession Risk to Combat Inflation
Federal Reserve Chairman Jerome Powell said he was more concerned about the risk of failing to stamp out high inflation than about the possibility of...
Rising Interest Rates Will Crush the Federal Budget
The Federal Reserve’s policies of increasing interest rates and quantitative tightening—reducing its $8.9 trillion balance sheet—will increase the volume and cost of federal government borrowing,...
The U.S. housing market is teetering on recession. Will the economy soon follow?
The last time the housing market suffered a major meltdown in 2006, it took the entire U.S. economy with it. But history never follows the...
Opinion: Jerome Powell is the worst Federal Reserve policy maker in my lifetime
In the history of the Federal Reserve, the most revered chairmen are William McChesney Martin, Paul Volcker and Alan Greenspan. All gained their reputation by...
IRS Is Falling Further Behind on Tax-Return Backlog, Watchdog Says
WASHINGTON—The Internal Revenue Service faces daunting mathematical and logistical challenges in its attempt to largely eliminate its tax-return backlog by the end of 2022, an...
‘The economy is going to collapse,’ says Wall Street veteran Novogratz. ‘We are going to go into a really fast recession.’
Veteran investor and bitcoin bull Michael Novogratz doesn’t have a rosy outlook on the economy, which he described as headed for a substantial downturn, with...
Fed Rate Hikes Will End Sooner Than You Think. What That Means for Stocks.
Text size Federal Reserve Chairman Jerome Powell Drew Angerer/Getty Images The Federal Reserve’s aggressive interest rate increases can only last so long. The stock market...
A Strong Dollar, a Weak Yen: Why the Gap Could Drive Inflation Even More
Text size The Japanese Yen has declined sharply against the U.S. dollar this year, which could create another destabilizing force for the global economy. Behrouz...
U.S. inflation expected to keep running hot: Traders see 4 straight months of roughly 9% or higher CPI readings
Just a day after Federal Reserve policy makers delivered their biggest rate hike in 28 years, the U.S. inflation outlook continues to look dire in...
Opinion: Inflation is making everything we buy more expensive, and once stagflation hits things could get even worse
Last month I examined the culprits that are causing global inflation, including rising interest rates, persistent supply chain issues (China locking down cities), and climbing energy...