U.S. Economy
U.S. recession isn’t ‘inevitable,’ but inflation is ‘unacceptably high,’ Treasury Secretary Yellen says
U.S. Treasury Secretary Janet Yellen testifies before a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S. budget, on Capitol Hill in Washington, June 8, 2022. Jonathan Ernst | Reuters The recession that many Americans fear is coming is not “at all imminent,” Treasury Secretary Janet Yellen said Sunday. Talk of a […]
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CDC advisors recommend Covid vaccines for children as young as 6 months
A child is administered a dose of the Pfizer-BioNTech coronavirus disease (COVID-19) pediatric vaccine. Mayela Lopez | Reuters The Centers for Disease Control and Prevention’s independent vaccine experts on Saturday backed Pfizer’s and Moderna’s Covid-19 shots for children as young as 6 months. The CDC committee voted unanimously to recommend the shots for use in […]
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FDA authorizes Pfizer and Moderna’s Covid vaccines for children as young as 6 months
The Food and Drug Administration on Friday authorized Moderna’s and Pfizer’s Covid-19 shots for children as young as 6 months old, which makes nearly every person in the U.S. now eligible for vaccination. The FDA decision comes after its committee of independent vaccine experts voted unanimously to recommend the shots after weighing their safety and […]
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Dalio is right to short Europe, strategist says: ‘The pain will go on for quite a while’
Ray Dalio, Bridgewater Associates, Founder, Co-Chairman & Co-CIO, at the WEF in Davos, Switzerland on May 24th, 2022. Adam Galica | CNBC Billionaire investor Ray Dalio is right to have bet against European stocks, and global markets still have a rough road ahead, according to Beat Wittmann, partner at Zurich-based Porta Advisors. Dalio’s Bridgewater Associates has […]
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President Biden says a recession is ‘not inevitable’
President Joe Biden speaks during an interview with the Associated Press in the Oval Office of the White House, Thursday, June 16, 2022, in Washington. Evan Vucci | AP President Joe Biden told The Associated Press on Thursday that the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic, […]
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A shallow recession is on the way, strategists warn. Here’s how it could play out
Traders work, as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen, on the floor of the New York Stock Exchange (NYSE) in New York City, June 15, 2022. Brendan McDermid | Reuters A shallow recession in the U.S. is a “virtual certainty” in the third quarter, according to Destination Wealth Management’s […]
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‘Numbers don’t lie’: Kevin O’Leary says there’s no evidence of a recession right now
The U.S. economy is much stronger than people think, and there’s “no evidence” of an impending slowdown or recession yet, says celebrity investor Kevin O’Leary. “I’m not saying we won’t get one, but everybody that’s saying it’s coming around the corner next week is just wrong,” he told CNBC’s “Squawk Box Asia” on Thursday. “There’s […]
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Kevin O’Leary says he won’t be buying bonds for now
Investors are “going to get hurt” if they’re in long duration bonds right now, says venture capitalist Kevin O’Leary. His comments come hours after the Federal Reserve raised interest rates by 75 basis points — the central bank’s most aggressive hike since 1994. “I wouldn’t be buying bonds here,” O’Leary, who is chairman at O’Leary […]
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Covid vaccines for kids under 5 move closer to FDA authorization after committee backs shots
A kindergarten student gives the thumbs up to her teacher before starting the first day of kindergarten at Laguna Niguel Elementary School in Laguna Niguel, CA on Tuesday, August 17, 2021. Paul Bersebach | MediaNews Group | Getty Images Moderna and Pfizer’s Covid-19 vaccines for infants through preschoolers have moved a step closer to authorization […]
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Fed members predict more hikes with the benchmark rate above 3% by year-end
U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March 3, 2022. Tom Williams | Reuters The Federal Reserve said Wednesday it expects the fed funds rate to increase by another roughly 1.75 percentage points over the next four […]
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