Earlier this month, the U.S. Labor Department reported that job growth slowed in July and that unemployment hit 4.3%, the highest rate since October 2021. The weaker-than-expected report prompted Goldman Sachs to raise the odds of a recession from 15% to 20% and JPMorgan Chase to up the chances from 25% to 35%. Based on...
A senior economist expects multiple cuts in the federal funds rate (the rate banks pay that ripple out to consumer interest rates on everything from credit cards to mortgages) before the year ends. On Wednesday, the Federal Reserve released meeting minutes for the Federal Open Market Committee meeting held on July 30 and July 31....