Financial News Network - Economic News

Larry Summers: 50 percent chance of a US recession by 2020

The former Treasury Secretary warned the Fed should be careful not to raise rates too quickly.

Read more: https://www.cnbc.com/2018/11/15/larry-summers-50-percent-chance-of-a-us-recession-by-2020.html

US and China rivalry for supremacy goes way beyond trade, says founder of world's largest hedge fund

"History has shown there's a concept called the 'Thucydides Trap'" that indicates conflict, says Ray Dalio, the billionaire Bridgewater founder.

Read more: https://www.cnbc.com/2018/11/15/us-and-china-rivalry-goes-beyond-trade-says-ray-dalio-founder-of-worlds-largest-hedge-fund.html

US import prices increase more than expected in October

U.S. import prices increased more than expected in October, boosted by a surge in petroleum and food prices, but underlying imported inflation pressures remained tame amid a strong dollar.

Read more: https://www.cnbc.com/2018/11/15/us-import-prices-oct-2018.html

US retail sales rebound sharply in October

U.S. retail sales rebounded sharply in October as purchases of motor vehicles and building materials surged.

Read more: https://www.cnbc.com/2018/11/15/us-retail-sales-oct-2018.html

US weekly jobless claims unexpectedly rise; several states estimated

The number of Americans filing applications for jobless aid unexpectedly rose last week.

Read more: https://www.cnbc.com/2018/11/15/us-weekly-jobless-claims-nov-10-2018.html

Billionaire investor Ray Dalio: Fed raised rates to a point where it's hurting asset prices

The central bank needs to start looking at monetary policy's impact on asset prices before economic conditions, Dalio says, adding he would err on the side of caution on rate hikes.

Read more: https://www.cnbc.com/2018/11/15/billionaire-ray-dalio-fed-raised-rates-to-a-point-where-theyre-hurting-asset-prices.html

US consumer prices post the largest increase in 9 months

Consumer prices climbed 0.3 percent in October, with higher prices for gasoline, used autos and housing contributing to the increase.

Read more: https://www.cnbc.com/2018/11/14/us-consumer-price-index-october-2018.html

Weekly mortgage applications drop 3.2%, hit by tanking stocks and rising rates

While tight supply of homes for sale had been plaguing buyers for much of this year, listings are increasing, but so are prices and interest rates, weakening affordability.

Read more: https://www.cnbc.com/2018/11/14/rocky-stocks-and-rising-rates-hit-mortgage-applications-down-3point2percent.html

Companies struggling to fill jobs 'should try paying more,' Fed's Kashkari says

Companies should try digging in their pockets if they're looking to find workers for unfilled jobs, Minneapolis Fed President Neel Kashkari said Tuesday.

Read more: https://www.cnbc.com/2018/11/13/firms-trying-to-fill-jobs-should-try-paying-more-feds-kashkari-says.html

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Economic News

Larry Summers: 50 percent chance of a US recession by 2020

US and China rivalry for supremacy goes way beyond trade, says founder of world's largest hedge fund

US import prices increase more than expected in October

US retail sales rebound sharply in October

US weekly jobless claims unexpectedly rise; several states estimated

Billionaire investor Ray Dalio: Fed raised rates to a point where it's hurting asset prices

US consumer prices post the largest increase in 9 months

Weekly mortgage applications drop 3.2%, hit by tanking stocks and rising rates

Companies struggling to fill jobs 'should try paying more,' Fed's Kashkari says

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