Economists are increasingly forecasting a recession next year, but one believes the downturn has already begun. Gary Shilling, an economist and financial analyst who is credited with predicting several recessions over the past 40 years, thinks the U.S. is in...
Congress says wealthy would reap most benefit from cap repeal ​House panel will examine deduction’s impact in Tuesday hearing More than half of the benefit of repealing the $10,000 deduction cap for state and local taxes would go to millionaires,...
The S&P 500 is within 1% of its closing record set on April 30 The S&P 500 index stands less than 1% shy of a record but investors aren’t loving the climb, based on a recent fund manager survey from...
Bets on a move as soon as July rise after weak jobs report Some see Powell getting ahead of market with half-point cut Federal Reserve Chairman Jerome Powell and his colleagues face three decisions when it comes to reducing interest...
The U.S.-China trade war has had a major effect on American farmers since the Trump administration began taking action against Beijing in March 2018. Things got worse recently when President Trump announced on Friday that the U.S. will be implementing...
The Trump administration’s 10% tariff on $200 billion in Chinese imports has been a nuisance, with many U.S. businesses absorbing the cost or working around it. But President Donald Trump’s threat over the weekend to hike the duty to 25% would...
Most millennials define adulthood as being on their own financially, but the majority still depend on Mom and Dad for money, even in into 30s, according to a new Merrill Lynch/Age Wave survey given exclusively to USA TODAY. Seven in...
Critics of economics like to say that its abstract theories lack real-world pay-offs. There is a glaring counter-example: the global rise of central-bank independence in the past 25 years. In the 1970s it was normal for politicians to manipulate interest...
Basket of American companies exposed to Europe up 23% in 2019 IMF sharply downgrades its outlook for euro-area economies The soft spot for the global economy is a source of strength for the U.S. stock market. A basket of American...
Prime Minister Theresa May is expected to speak after a marathon Cabinet meeting on Tuesday, according to media reports. Meanwhile, members of Parliament are maneuvering to try to prevent a no-deal split in 10 days. Kitty Donaldson & Robert Hutton...
The House of Commons will attempt to break its Brexit deadlock on Wednesday with votes on alternatives to Prime Minister Theresa May’s divorce deal with the European Union. The exact way the so-called “indicative votes” will work is still the...
The U.S. budget deficit widened to $310 billion in the first four months of the fiscal year, underscoring the revenue hit from Republican tax cuts and an increase in government spending. The budget gap widened 77 percent compared with the...
Federal Reserve Chair Jerome Powell has repeatedly called out the ballooning U.S. national debt. He did so again while testifying to Congress on Tuesday. "The U.S. federal government is on an unsustainable fiscal path,” Powell told the Senate Banking Committee,...
Treasuries signal weak economic outlook while equities advance Stock bulls lack ‘fundamental support’ from bonds: Ned Davis It’s the latest chapter of the ever-raging battle between stocks and bonds. Treasury yields signal a brewing economic slowdown while equity bulls are...
Tax refunds are still coming in smaller versus last year after the second full week of filing season, the Internal Revenue Service reported on Thursday. Tax pros say lower paycheck withholdings during the year is the likely reason. The average...
