Economy

CEOs are preparing for a recession, and they don’t think it will be short

New York CNN Business — Major CEOs aren’t buying the notion that the US economy could have a soft landing following a series of historically large interest rate hikes by the Federal Reserve to fight inflation. According to a survey of 400 leaders of large US companies by consulting firm KPMG, a whopping 91% are …

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Steve Forbes calls for policy changes from both parties to help reduce ‘bloated’ government spending: ‘Sinful’

Forbes chairman Steve Forbes reacts to the president slamming Republicans for criticizing his ‘big’ spending on ‘Varney & Co.’ Forbes chairman Steve Forbes called out Republicans on Monday for spending as big as Democrats, telling “Varney & Co.” the American people want to see policies from both parties on reducing “bloated” government spending ahead of …

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Robinhood closing 5 additional offices in restructuring

BMO Capital Markets chief investment strategist Brian Belski breaks down the market and shares his predictions for the next two years. Robinhood Markets Inc. is partially or completely closing five more of its offices as part of a restructuring program announced in August. According to an 8-K filing with the US Securities and Exchange Commission, …

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Fed’s Williams sees steep decline in inflation ahead

Cooling global demand and steady improvements in supply should result in falling rates of inflation for goods over the next year, New York Fed President John Williams said Monday. “These factors should contribute to inflation declining to about 3% next year,” Williams said in a speech to the US Hispanic Chamber of Commerce in Phoenix. …

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Ivey ‘exploring’ tax rebate checks for Alabamians, says state’s ‘financial footing is very strong’

Govt. Kay Ivey on Monday said she is “exploring” returning tax money to Alabamians after the state closed out the fiscal year last week on stronger than usual revenues. “I do believe that some form of rebates should be considered, but rest assured that every option we are exploring will be focused on the interests …

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Typical US household spends $24k on bills per year: report

Check out what’s clicking on FoxBusiness.com The typical US household spends just over $24,000 on bills per year, according to a report released Monday by the online bill pay service Doxo. Doxo said its “50 Largest US Cities Household Spend Report 2022” found that the typical US household spends $24,032 annually on 10 bill categories, …

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WiFi Money working with conservative businesses to ‘beat censorship’ on social media platforms

Evercore ISI Senior Managing Director Mark Mahaney discusses Amazon’s stock performance, retailers and consumer habits. EXCLUSIVE: Entrepreneurs and co-founders of WiFi Money Chris Frederick and Alex Moeller are working with conservative businesses to “beat censorship” on social media platforms, and to ensure they can amplify and monetize their products in an ever-evolving digital world. Frederick …

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US home prices drop at fastest pace since 2009

Horizon Investments chief investment officer Scott Ladner argues housing leads the economy and will cause a market ‘softening.’ Home prices in the US are sinking at the fastest monthly pace since the Great Recession, evidence that rising mortgage rates are rapidly slowing activity in the housing market. Median home prices fell 0.98% in August from …

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Bolsonaro’s strong showing in Brazil vote may boost markets, bankers say

SAO PAULO, Oct 3 (Reuters) – Stronger-than-expected support for Brazil’s President Jair Bolsonaro in the first round of a presidential election may provide a boost for Brazilian financial markets on Monday, said bankers and analysts, as the race went to an October 30 runoff. Bolsonaro’s leftist challenger, former President Luiz Inacio Lula da Silva, fell …

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