Types of News: Brief

Gas And Food Prices Continue To Climb; Jobs Market Still Tight Despite Layoffs February 17, 2023—The U.S. economy continues to run more hot than cold, despite previous forecasts that a recession would loom early in 2023. The IMF had projected a steep decline for the global economy at the beginning of the year. Then, the World Bank said the world was "perilously close" to falling into a recession. But despite the doom and gloom, the U.S. economy keeps growing. Prices are climbing; the job market remains tight even as certain economic sectors deliver layoffs; and U.S. equity markets are rising. Inflation: Prices Still Rising Inflation in the United States remains high, even as the overall CPI figure comes down from its peaks of 8.6 percent and 9.1 percent of an annualized...

Global Growth Forecasts For 2023 January 11, 2023—The global economy is "perilously close to falling into a recession," the World Bank warned yesterday, with a forecast that projects 1.7 growth for the world. That projection is down significantly from the bank's forecast last June. Persistently high inflation, rising interest rates, and weakening confidence are bringing growth estimates down in an atmosphere of gloom. "The global economy is on a razor's edge. Even a small shock can trigger an outright recession," said Ayhan Kose, director of the World Bank’s Prospects Group. "The slowdown is a very sharp one, and it is broad-based." Economic Growth Continues While that is gloomy news, it might not be as bad as it sounds. For instance, a lot of economies are likely to continue...

January 2, 2023—International Monetary Fund Managing Director Kristalina Georgieva said the majority of the world should brace itself for an economic slowdown in 2023. In an interview with CBS on Sunday, Georgieva predicted that half the European Union would see recession this year while China's economy is likely to continue to slow down. She said the United States might avoid a negative growth if its labor market remains strong, but that is a "mixed blessing" because it means the Federal Reserve would likely continue raising interest rates. Georgieva, the head of the agency tasked with helping countries avoid economic crisis, said 2023 is likely to be "a tough year, tougher than the year we leave behind." That outlook differs from trends at the end of 2022 when a majority of G2...