Recession

Recession fears are surging among global executives, with a majority predicting a looming downturn as a result of soaring inflation and rising interest rates, a new survey shows.

The Federal Reserve is focused on tackling inflation and bringing consumer prices closer in line with the central bank's 2% target, Chairman Jerome Powell said on Friday.

A closely watched Federal Reserve tool showed economic growth in the second quarter may have stalled, raising the possibility that the economy is already in a recession.

The Federal Reserve on Wednesday approved the largest interest rate hike since 1994 as officials try to tame runaway inflation, which surged to another 40-year high in May.

The Fed is under mounting pressure to cool inflation with more aggressive interest rate hikes after consumer prices accelerated faster than expected last week.

A majority of investment fund managers are forecasting sluggish growth and soaring inflation, the result of the Federal Reserve raising interest rates at the fast pace in decades.

The producer price index, which measures inflation at the wholesale level before it reaches consumers, accelerated again in May, the Labor Department said on Tuesday.

Odds on Wall Street are growing that the Federal Reserve will inadvertently trigger an economic recession as it moves to cool sizzling-hot inflation with a series of rate hikes.

The New York Federal Reserve said Monday that Americans ramped up their inflation expectations in May, creating new challenges for the U.S. central bank as it tries to cool prices.

Market expert Eddie Ghabour said that the Federal Reserve is going to have to fore a recession to get inflation down during an interview on "Varney & Co."

The May consumer price report, released on Friday, sheds light on whether inflation is peaking, or whether consumers will continue to face rising costs in coming months.

The May inflation report is expected to show that consumer prices accelerated again last month, with soaring consumer prices continuing to inflict financial pain on most Americans.

The number of Americans applying for unemployment benefits climbed higher than expected last week, a worrisome sign that the red-hot labor market may be starting to cool off.

The Federal Reserve Bank of Atlanta's closely watched GDP tracker shows that GDP growth likely cooled markedly in the spring, meaning the economy could easily tip into a recession.

The global economy is at danger of returning to 1970s-style stagflation as it confronts elevated inflation and a slowdown in growth, according to a grim World Bank report.

Former Chase chief economist Anthony Chan reacts to his friend JP Morgan Chase CEO Jamie Dimon's warning that a "hurricane" is on the horizon for the economy.

The Federal Reserve may successfully engineer a "soft landing," and bring inflation down without causing a recession, according to Goldman Sachs economists.

The Federal Reserve may trigger a recession with its war on inflation, but economists think the downturn will be a mild one.

President Biden on Friday used the May jobs report as evidence that the economy is in a healthy position as he tries to improve his approval rating ahead of the November midterm elections.

The U.S. economy continued to see healthy job growth in May, indicating the labor market is still strong despite headwinds from rising interest rates, soaring inflation, a worsening labor shortage and fears of a slowdown.