Paul Walker

The worst is yet to come: Economist Stephen Roach says US needs 'miracle' to avoid recession

The worst is yet to come: Economist Stephen Roach says US needs ‘miracle’ to avoid recession

Negative economic growth in the first half of the year could be a precursor to a deeper recession that could last into 2024. Stephen Roach, the former chairman of Morgan Stanley’s Asia division, warned that the U.S. needs a “miracle” to avoid a recession. “As the lagged effects of this major monetary tightening start to …

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Fed rate hikes won't lower inflation as long as government spending remains high, paper says

Fed rate hikes won’t lower inflation as long as government spending remains high, paper says

New York Federal Reserve Bank President and CEO John C. Williams, Federal Reserve Board Vice Chairman Lyle Brainard and Federal Reserve Chairman Jerome Powell take a walk in Teton National Park. On August 26, 2022, financial leaders from around the world gathered for the Jackson Hole Economic Symposium outside Jackson, Wyoming. Jim Urquhart | Reuters …

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