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  • US stocks drop as recession worries take the air out of a short-lived rebound

    8 days ago - By Business Insider

    Federal Reserve Board Chair Jerome Powell testified before the House Financial Services Committee in March 2022. Win McNamee/Getty Images
    US stocks slid on Wednesday in the wake of a post-holiday rally.
    Fed Chairman Jerome Powell will testify before the Senate Banking Committee on Wednesday.
    Powell will address lawmakers after the largest rate hike since 1994.
    US stocks dropped Wednesday as investors hit the brakes on a bear-market rally as they prepared to hear what Federal Reserve Chairman Jerome Powell will tell lawmakers about monetary policy and about the potential for a recession in...
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  • There's a 50% chance of a global recession as central banks hike rates to curb inflation, says Deutsche Bank chief

    8 days ago - By Business Insider

    Moscow still faces the prospect of default, despite a last-minute payment this week. Getty Images
    The world economy faces a 50% chance of recession, according to the CEO of Deutsche Bank.
    The exec also said the chances of a recession in the US and Europe are higher than the bank's forecasts from before the Ukraine war.
    Earlier this month, the Fed imposed its largest interest rate hike since 1994.
    The global economy faces a 50% chance of recession as central banks around the world scramble to combat inflation, Deutsche Bank CEO Christian Sewing said at the Future of Finance Summit in...
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  • Citi sees a 40% chance of US recession going into next year and expects the Fed's policies to take up to 18 months to take effect

    8 days ago - By Business Insider

    Recessionary fears are growing as the US economy weakens with sky-high inflation. Spencer Platt/Getty Images
    Citi believes there is a 40% chance the US economy could enter recession going into next year.
    The bank's head of capital markets thinks it could take up to 18 months for the Fed's policies to take effect.
    The risk of recession is rising as high interest rates and inflation weigh on the economy.
    There is a 40% chance the US economy could fall into a recession by next year, Citi's head of capital markets, Kristin Bitterly said. Speaking to CNBC Tuesday , Bitterly said it could take...
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