. In a report obtained first by CNN, Fitch slashed its US growth forecasts for this year and next because of one of the most aggressive inflation-fighting campaigns by the Fed in history. US GDP is now expected to grow by just 0.5% next year, down from 1.5% in the firm’s June forecast. High inflation will “prove too much of a drain” on household income next year, Fitch said, shrinking consumer spending to the point that it causes a downturn during the second quarter of 2023.
Today’s period of high energy prices is linked in large part to Russia’s invasion of Ukraine, a conflict that has also raised food prices. The 1990-1991 recession helped doom the political fortunes of then-President George H.W. Bush. In the 1992 race for the White House, Arkansas Governor Bill Clinton blamed Bush’s policies for the recession and a Clinton strategist coined the phrase, “It’s the economy, stupid,” highlighting the importance of that issue for voters.
Necessary for the rebound
Is Texas supposed to get a stimulus for seniors? If not,why not?
CNN could have written Biden White House policies lead to recession and skyrocketing inflation. Like they would with Trump at the WH
What is a mild recession?
Biden’s America.
Dems gettin stomped like a narc at a biker rally in a couple weeks
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mercedes CEO says Europe's gas crisis will accelerate its shift to renewables | CNN BusinessEurope's gas crisis will be 'a catalyst' for Mercedes-Benz to push deeper into clean energy, says its CEO. Well, they didn’t have another option tbh This is all by design by the Green Mob to deprive us of our fossil fuels, making them prohibitively expensive. Now we all have to buy a prohibitively expensive EV and recharge it with prohibitively expensive electricity if there isn't a blackout, rationed & the grid can handle it Public lands and bodies of water need solar panels and/or wind turbines installed yesterday. A global project benefiting countries that support renewable energy while ridding themselves of tyrants and their greedy policies to fix pricing to line their pockets.
Source: cnni - 🏆 326. / 59 Read more »
French government in crisis talks as fuel shortages worsen | CNN BusinessFrench President Emmanuel Macron called a crisis meeting with senior ministers on Monday to address crippling strikes at gas refineries that has caused fuel pumps to run dry. No shortage at our local petrol stations here in SW France. In these few years, Macron has heard and seen many dissatisfactions from the people of France, and despite all the problems, he has either remained in his position for an open reason, or his internal and external supporters have asked him to stay,C.... C: but how long can it be without change and transformation in He continued his thoughts and actions?
Source: cnni - 🏆 326. / 59 Read more »
With product innovation lagging, Silicon Valley bets on a fresh coat of paint | CNN BusinessWhen Google unveiled its new Pixel 7 smartphone lineup earlier this month, the devices looked largely the same as the year prior. But there was at least one subtle change: the colors.
Source: cnni - 🏆 326. / 59 Read more »