If the Reserve Bank board really wants to break the spirit of Australian shoppers, it’s going to have to try harder: consumers are digging in like a tennis champ deep into a five setter, deftly returning the central bank’s volley of rate rises. Leading into the earnings season, a slew of ASX discretionary retailers has … Read more
Consumers spent less in December even as an inflation measure considered key by the Federal Reserve showed the pace of price increases easing, the Commerce Department reported Friday. Personal consumption expenditures excluding food and energy increased 4.4% from a year ago, down from the 4.7% reading in November and in line with the Dow Jones … Read more
Welcome back to Money Made Easy, where we focus on simple ways to manage your finances and save money. In the latest installment of the series, CNBC Select Contributor and financial advisor Kristin Merrick walks us through her best tips for rethinking how you manage your money in 2023. Check out the full interview featured … Read more
The U.S. economy grew at a seemingly snappy pace in the waning months of 2022, but it appears to have gotten off to a tepid start in the new year. The first batch of reports on the health of the economy in the first quarter suggest the U.S. could even contract again. Gross domestic product, … Read more
A woman shops for chicken at a supermarket in Santa Monica, California, on Sept. 13, 2022. Apu Gomes | AFP | Getty Images For those who fear a recession may be coming, the only question is when. Many economists and CEOs, in fact, expect a recession may be on the horizon this year related investing … Read more
JPMorgan’s Marko Kolanovic is abstaining from the early 2023 rally. Instead, the Institutional Investor hall-of-famer is bracing for a 10% or more correction in the first half of this year, telling investors he’s “outright negative” on the market. “Fundamentals are deteriorating. And, the market has been moving up. So, that has to clash at some … Read more
No matter how you look at it, being single right now in the U.S. is expensive. From facing fewer tax advantages to not being able to split everyday costs like rent or groceries, living solo can come at a much higher price than with a partner. That said, more and more Americans are continuing to … Read more
With the end of the year approaching, it may be time to reevaluate your finances. This year has been marked by record-high inflation and multiple interest rate hikes. As the Fed attempts to rein in inflation by raising interest rates, there’s a strong possibility that the economy teeters towards a recession in the coming months. … Read more
Twelve thousand layoffs at Google. Eleven thousand at Facebook; 10,000 at Microsoft; 18,000 at Amazon; 8,000 at Salesforce; 4,000 at Cisco; 3,000-plus at Twitter. The American economy has recovered from the sharp downturn caused by the arrival of the coronavirus and is chugging along just fine, at least for the moment. Yet the tech sector—the … Read more
Australia could soon face a recession if the Reserve Bank continues to hike rates as the consumer-led economy recovery rapidly runs out of steam, a leading economist has warned. Falling house prices, rising interest rates, high inflation, low levels of consumer confidence and negative real wage growth are expected to combine in 2023 to contribute … Read more