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Mid-Day Recap: Markets Recovering After Two-Week Struggle

Bernanke Says Biggest Worry is That Politicians Abandon Banks

Paulson Says More TARP Programs on the Way

Economists Say Contraction in U.S. Q3 GDP Confirms Recession

Former Fed Chair Volcker Says "No Doubt" U.S. is in...

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Mid-Day Recap: Markets Recovering After Two-Week Struggle

Trading has been volatile in the first 90 minutes on Monday but markets now appear to have found a direction. The only data release this morning was the ISM services index, but despite a much better reading than anticipated, the reaction on Wall Street was mixed. Stocks actually turned lower after the 10:00 am release, but 20 minutes later equities began climbing....

Published Mon, Oct 10 2009 11:16 AM by Patrick McGee

Filed under: recession, ism services
Bernanke Says Biggest Worry is That Politicians Abandon Banks

Federal Reserve Chairman Ben Bernanke said that the recession will likely end this year unless political leaders withdraw support for efforts to stabilize the financial system . Bernanke made the comments in an interview with CBS's 60 Minutes on Sunday...

Published Sun, Mar 03 2009 7:34 PM by CEP News Feed

Filed under: ben bernanke, recession, financial system
Paulson Says More TARP Programs on the Way

Treasury Secretary Henry Paulson said on Monday the Treasury is developing new programs under the Troubled Asset Relief Program (TARP) and that he's confident the Treasury is pursuing the right strategy. "We are actively engaged in developing...

Published Mon, Dec 12 2008 3:36 PM by CEP News Feed

Filed under: FDIC, hank paulson, recession, treasury department, tarp
Economists Say Contraction in U.S. Q3 GDP Confirms Recession

U.S. Gross Domestic Product was slightly better than the market consensus, but economists' reactions were far from optimistic following the report. Most analysts, if not all, are expecting the fourth quarter to be worse than Q3, with some revising...

Published Thu, Oct 10 2008 10:28 AM by CEP News Feed

Filed under: recession, consumer spending, gdp
Former Fed Chair Volcker Says "No Doubt" U.S. is in Recession

There is no doubt the U.S. economy is in recession, caused by slowing consumption spending and excessive debt, said former Federal Reserve Chairman Paul Volcker on Tuesday. "I don't think there is any doubt we are in a recession ," Volcker...

Published Tue, Oct 10 2008 9:27 AM by CEP News Feed

Filed under: recession, Paul Volcker
Fed's Stern Says Economy Bad But Whether Recessionary is an "Open Question"

The current financial crisis in the United States may prove to be worse than the one seen in 1990-91, said Federal Reserve Bank of Minneapolis President Gary Stern. However, Stern refused to comment on whether the United States is headed for a recession...

Published Tue, Oct 10 2008 9:09 PM by CEP News Feed

Filed under: recession, gary stern
Economists Say U.S. Retail Sales "Simply Disturbing"

Economists say the results of the U.S. retail sales report were worse than already pessimistic expectations, and will put consumer spending on the path to shrinking for the first time since 1991. "We have a recession on our hands," said Jennifer...

Published Wed, Oct 10 2008 9:57 AM by CEP News Feed

Filed under: recession, retail sales
Fed's Lacker Says Recession Likely But Rate Cuts Won't Help

In an interview with the Wall Street Journal on Monday, Richmond Fed President Jeffrey Lacker (non-voter) said the U.S. economy is most likely in recession, but that monetary policy easing may not be the answer. "It looks pretty likely that this...

Published Tue, Oct 10 2008 7:55 AM by CEP News Feed

Filed under: interest rates, recession, jeffrey lacker
Jobless Claims Consistent with Recession, Trend to Continue, Economists Say

Economists say the higher than anticipated number of unemployment benefits in the week ending Sept. 27 is not only consistent with recession, but is actually worse . Initial jobless claims rose to 497k, the Department of Labor reported on Thursday, while...

Published Thu, Oct 10 2008 9:02 AM by CEP News Feed

Filed under: recession, jobless claims
September's ISM Manufacturing Index "Screams Recession," Economists Say

Economists say the details of the ISM manufacturing report in September were just as bad as the headline would suggest, as all major components contributed to pull the index down to its lowest level since October 2001. Strategists at RDQ Economics said...

Published Wed, Oct 10 2008 10:54 AM by CEP News Feed

Filed under: recession, ism
Global Recession in 2009 to be Followed by Recovery in 2010, TD Report Says

The world will head into a mild recession in 2009 before bouncing back the following year, says a new report released by TD Economics. The report added that while home prices will bottom out over the next 12 months and the worst of the financial firm...

Published Thu, Sep 09 2008 11:04 AM by CEP News Feed

Filed under: recession, global economy
Fed's Fisher Says Growth Could Go Negative, but Focus Remains on Inflation

Speaking in an interview with Dow Jones Newswires on Monday, Dallas Fed President Richard Fisher (voter) said growth in the U.S. could slow to zero or even turn negative in the second half of 2008, but the main issue remains whether inflation will become persistent or not.
...

Published Tue, Aug 08 2008 7:00 AM by Glenn Setzer

Filed under: Federal Reserve, recession, richard fisher
Fed's Stern Says 1990s Recession Offers Valuable Guide to Current Turmoil

The current economic turmoil is comparable to the early 1990s, which can be a valuable guide to understanding what's next as the U.S. economy seeks to rebound into healthy growth, according to one Fed official on Thursday.

Minneapolis Fed President Gary Stern, a voter on the FOMC who is known to tilt towards the hawkish viewpoint, said...
...

Published Thu, Aug 08 2008 7:00 AM by Glenn Setzer

Filed under: Federal Reserve, recession, gary stern
After Weak U.S. Second-Quarter GDP, Economists Say Worse to Come

Economists say the reported 1.9% GDP growth for the second quarter of 2008 was boosted by a 1.5% increase in consumption and a 2.4% gain in net exports. The figure was lower than expectations, however, as inventories saw a sharp reduction.

Aside from the headline, the big news came from revisions to the previous two quarters...
...

Published Thu, Jul 07 2008 7:00 AM by Glenn Setzer

Filed under: economy, recession, gdp
Economist Calls April U.S. Durable Goods Report "Awfully Strong"

The surprising 2.5% increase in April durable goods excluding transport as well as the 4.2% advance in core capital goods makes for a strong report that contrasts with the ISM manufacturing data, economists say.

Eric Lascelles, senior economics and rates strategist at TD Securities, said the release is an "awfully strong looking report," noting the while "most measures are still flirting around zero," there was also "substantial growth" in a few key components.
...

Published Wed, May 05 2008 7:00 AM by Glenn Setzer

Filed under: economy, recession, durable goods

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