Tag: recession in US

U.S. Treasury Secretary Janet Yellen confirmed on Monday that she has not seen any evidence of a U.S. economic downturn. Still, she warned that economic momentum remains reliant on the government's ability to pass legislation to support the world's biggest economy. "I don't see any signs...

U.S. and European stocks advanced on Wednesday following a wave of upbeat company earnings reports. Investor confidence consequently rose, subduing previous concerns driven by the potential return of the Federal Reserve's interest rate hikes and the economic recession that may follow. In Europe, the pan-European...

Strong U.S. economic data continues to pour in this week, pushing consumer confidence in June to its highest level in the last 18 months. This has led economists to pull away from concerns of an impending recession in the coming months. U.S. home sales rose...

Goldman Sachs Group Inc. lowered its probability of a U.S. recession over the next 12 months to 25% after the government's anxiously-awaited debt ceiling deal was signed into law. This comes after the investment group upgraded its recession probability to 35% following the collapse...

Investor fears regarding a potential near-term U.S. recession have subsided after revisions to economic data for the first quarter of the year showed that the economy grew faster than expected. U.S. GDP growth was 1.3% in the first quarter of 2023, meaning that U.S. economic...

American Express CEO Stephen Squeri dismissed concerns of an impending recession, stating that the credit card company has not yet seen a downturn in spending trends to suggest one such change. This assessment comes after American Express announced its fourth-quarter results. Net sales for the...