POLITICO

Fissures are forming in the economy just as the Fed’s long-running fight against inflation looks to be nearing its conclusion.

Inflation is easing. Now, Harris has an even bigger problem with the economy.

CBS San Francisco

For much of 2024, it appeared the Federal Reserve had successfully navigated a tricky line, tempering the hottest inflation in four decades while keeping the U.S. economy from sinking into a recession. But recent weak economic data is prompting some economists to caution that the nation isn't out of the danger zone just yet. One economic indicator sparking fears of a so-called hard landing was the disappointing jobs report on August 2, which showed that the unemployment rate jumped to 4.3% in July from 4.1% in the prior month. That climb triggered the Sahm Rule, or when the three-month moving average of...

Is the U.S. headed for a recession? Here's what the experts say.

TheDailyBeast

Fears of an impending U.S. recession sent the Dow Jones Industrial Index tumbling more than 1,000 points in early trading Monday and triggered a panic sell-off in financial markets around the world.Wall Street went into meltdown with the S&P 500 down 4 percent and Nasdaq dropping 5.5 percent. The Dow Jones slipped 3 percent, or 1,197 points by 9.35 a.m. Eastern.Earlier, the FTSE 100 index in London fell by 2.1 percent, and it was followed by the Nikkei 225 in Japan plunging by 12.4 percent, or 4,451 points, the biggest one-day points drop in history.In Paris, the CAC-40 fell by...

Stock Markets Crash Worldwide Over Fears of U.S. Recession

Markets Insider

American workers aren't so quick to quit their jobs anymore - largely because they're afraid of a coming recession, labor experts say.

American workers are stuck in place because everyone is too afraid of a recession to quit

The Independent

Global equities markets began the week with a steep plunge, reacting to the possibility of a coming US recession that Goldman Sachs economists pegged at 25 percent.On Monday morning, the Dow Jones Industrial Average fell 945 points, or nearly 2.5 percent, to ​​38,791.28. In simple terms, if on Friday you had $100 in a fund tracking the Dow, you would now have about $97.50. The two other major indexes, the S&P 500 and the Nasdaq Composite, were down mid-morning by roughly 3 percent and 6 percent, respectively. At the end of the session, the Dow was down 2.6 percent, sliding...

Experts are warning of a global recession. Here’s what that actually means

Japan is offloading billions of dollars in US Treasuries as it fights to prop up its currency. New numbers from the US Treasury Department show Japan sold $22 billion in Treasury securities in May, reducing its holdings to $1.1283 trillion. The move marks the second month in a row that...

Japan Dumps $22,000,000,000 in US Treasuries in One Month As Government Mounts Billion-Dollar Battle To Prop Up Currency

The stock market’s benchmark index, the S&P 500, has erased $1.2 trillion of its market capitalization since its daily high in just four hours after falling “in a literal straight line lower.”. That’s according to the economics outlet Kobeissi Letter, which noted on the microblogging platform X (formerly...

Market Bloodbath: S&P 500 Crashes $1.2 Trillion in Hours as Recession Fears Soar

A "record-breaking backlog" of pending actions has led to an estimated $1.1 billion in improper beneficiary payments, according to a new report. Experts say the Social Security Administration needs more funding in its budget to properly address a "customer service crisis." The Social Security Administration faces a "record-breaking backlog" of...

'Record-breaking backlog' leads to $1.1 billion in improper Social Security payments, report finds

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public. If you have a long-term savings goal, like saving up for a down payment on...

Best 5-year CD rates of August 2024 (up to 4.75% APY)

Iowa State

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Iowa Storm Center

(IowaStormCenter.com) -- A strong pacific storm system will get underway later tonight with severe thunderstorms and heavy rain. The first round of the one-two punch event is hitting across western Iowa this morning. Then the focus will be across southwest Iowa for severe thunderstorm development by this evening with threats for hail, damaging winds, heavy rainfall and a couple of isolated tornadoes.

Severe Thunderstorm/Heavy Rainfall Threat Tonight.

As new government data shows inflation subsiding, Social Security beneficiaries may expect a lower cost-of-living adjustment in 2025. The prospective Social Security COLA for 2025 could be the lowest since 2021, according to a new estimate. Even as new government inflation data shows inflation subsiding, many retirees are still struggling...

Social Security cost-of-living adjustment may be 2.6% in 2025, new estimate finds

The New York Times

The economy’s resurgence from the pandemic shock has had a singular driving force: the consumer. Flush with savings and buoyed by a sizzling labor market, Americans have spent exuberantly, on goods such as furniture and electronics and then on services including air travel and restaurant meals.

To Avoid a Recession, Consumer Spending Is Key

My family is from the Greek island of Ikaria, a Blue Zone renowned for the longevity of its inhabitants. To us, garlic has long been more than "just" an ingredient. Garlic is one of the defining components of the Mediterranean diet. I use it every day at almost every meal when I cook for myself or my family. During the weeks I run my cooking classes on the island, we use so much of it that one of my kitchen assistants takes half a dozen or so heads of garlic home with her each night to peel and store in water for the following day.

On the Greek island of longevity, where people often live to 100, we swear by this ingredient: 'I use it every day'

South Carolina State

Colleton County, SC

Explore Beaufort SC

Some beachgoers were in for a surprise this week when a bizarre looking prehistoric fish washed ashore in Colleton County along Edisto Beach at Edisto Beach State Park. It turned out to be an atlantic sturgeon.

Rare Atlantic sturgeon washes ashore on South Carolina beach

Indiana State

Mississippi State

If you prefer hiking the Appalachian Mountains over lounging on coastal beaches, this year's least-expensive state to retire may be a good fit for you. For the second year in a row, West Virginia is the most affordable state for retirement in the U.S., according to financial services company Bankrate's best and worst states for retirement report, which published last month.

The 10 most affordable U.S. states for retirement in 2024: Half are in the South

Devra Lee

Disclaimer: This content was written by Devra Lee for general informational and entertainment purposes only. This service is to provide astrological information that has been researched, recorded, and observed by the author.

Horoscope of the Day, Wednesday, August 14th

Reuters

NEW YORK (Reuters) - The average rate on the popular U.S. 30-year mortgage plunged to its lowest level since May 2023 this week, following days of market turbulence resulting from last week's softer-than-expected employment report.

U.S. 30-year fixed-rate mortgage plunges to lowest since May 2023, Freddie Mac says

Mohit Kumar, chief financial economist for Europe at Jefferies, discusses the recent bout of stock market volatility and says there is “absolutely no need” for the Federal Reserve to deliver a 50-basis-point interest rate cut next month.

‘Absolutely no need’ for the Fed to cut by 50 basis points in September, economist says

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J. Souza

Once a staple on cruise ships, libraries are becoming a relic of the past, particularly on Carnival Cruise Line vessels. The cruise line has confirmed that it no longer includes libraries in the design of new ships, a decision that has sparked both disappointment and understanding among passengers.

Why is Carnival Quietly Phasing Out a Popular Ship Amenity?

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

NewsBreak

Why it feels like the U.S. is in a recession

While a recession hasn't technically been declared in the U.S., roughly 3 out of 5 Americans believe the...

Why it feels like the U.S. is in a recession

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