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.

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.

While a recession hasn't technically been declared in the U.S., roughly 3 out of 5 Americans believe the U.S. is experiencing one, according to a survey by Affirm. An analysis by Bankrate found that consumer confidence in the economy has averaged nearly 28 percentage points lower during President Joe Biden's term compared to former President Donald Trump's time in office. So why does the U.S. economy feel so recession-like for the average consumer despite all the positive data?

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

Business Insider

The US economy has two imbalances that could tip it into a downturn, according to economist David Rosenberg.

Rising household debt and shrinking incomes are setting the stage for a recession, top economist says

Citing higher costs and difficulty making ends meet, 3 in 5 Americans falsely believe that the U.S. is currently in a recession, according to a recent report. Economists have wrestled with the growing disconnect between how well the economy is doing and how people feel about their financial standing. Some...

59% of Americans wrongly think the U.S. is in a recession, report finds

The Hill

President Biden was fed a series of gentle softballs over the weekend by Robert Costa of CBS News. He mumbled through his responses in what felt like an exit interview. After his debate debacle at the end of June, Biden publicly and privately stated that he was staying in the presidential race. It would take the “Lord Almighty” telling him to step aside for him to go, he told George Stephanopoulos. He held a press conference on July 11 that seemed to assuage concerns by some in his party. And then, 10 days later, he dropped out, in a letter posted to his social media accounts.

A possible October surprise? Biden resigns and Harris becomes president

A report released by the Labor Department on Thursday unexpectedly showed a continued decline by first-time claims for U.S. unemployment benefits in the week ended August 10th. The Labor Department said initial jobless claims fell to 227,000, a decrease of 7,000 from the previous week's revised level of 234,000. Economists...

U.S. Weekly Jobless Claims Unexpectedly Extend Pullback

Fox News

Fox News host Laura Ingraham discusses problems working-class Americans are facing under the Biden-Harris administration on "The Ingraham Angle."

LAURA INGRAHAM: There's something 'deeply wrong' with Kamala Harris

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

Las Vegas, NV

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Bellingham Metro News

LAS VEGAS, NEVADA - A magnitude 4.4 earthquake struck areas near Las Vegas on Tuesday night, according to the United States Geological Service (USGS). The quake, which occurred at 8:06 p.m., was centered approximately 45 minutes from Las Vegas, near Indian Springs.

Magnitude 4.4 Earthquake Shakes Areas Near Las Vegas

CBS New York

Fear, long absent in financial markets as investors bet on a "soft landing" for the U.S. economy, is back in the air on Wall Street.Stocks tumbled Friday after new government data showed a steep decline in hiring in July, spurring concerns that economic activity is slowing faster than economists expected. Two hours into the session, the blue-chip Dow Jones Industrial Average was down 984 points, or 2.4%, to 39,415. The broader S&P 500 sank 2.5%, while the tech-heavy Nasdaq Composite lost nearly 3%, fueled by disappointing quarterly earnings from bellwethers such as Amazon and Intel. Market analyst Adam Crisafulli of Vital Knowledge...

Dow plunges nearly 1,000 points amid sharp drop in U.S. hiring

Axios

The economy is on firmer footing than previously thought: Blowout consumer spending last month shows shoppers are not pulling back in a way that would be consistent with a recession. Why it matters: The "consumer slowdown" narrative fell apart last month. If it continues, that — along with receding inflation...

Resilient consumers keep soft landing alive

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)

This story is part of CNBC Make It's Millennial Money series, which details how people around the world earn, spend and save their money. Jewells Chambers doesn't look like a typical Icelander. In a country where 94% of people identify as native Icelandic, Chambers, a Black American woman, is among the other 6%.

38-year-old American expat lives on $73,000 in one of the world's most expensive countries: 'I feel safe, I feel at home'

When you're interviewing for a job, "asking great questions is such an underrated way to differentiate yourself from everyone else," says Nolan Church, former Google recruiter and current CEO of salary data company FairComp. Good questions can help make the case for why you're a rockstar at work. But asking...

Always ask these 4 questions when you're interviewing for a job, says ex-Google recruiter

Colorado State

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

Vice President Kamala Harris will propose the first-ever federal ban on "corporate price-gouging" in the food industry, her campaign announced. Harris will also pledge that if elected, she will direct the Justice Department to increase scrutiny of potential mergers between grocers and food producers. The ban is part of a...

Harris to propose federal ban on 'corporate price-gouging' in food and groceries

Amy Xie Patrick of Pendal discusses the likelihood of a recession in the U.S. and says a much softer economic picture is needed for the normalization of the yield curve.

The inverted yield curve has been as useful as a 'wet paper bag' for investors: Strategist

Markets Insider

Just 3.4 million couples in China got married in the first half of 2024, a 50% decline from what was recorded a decade ago, government data shows.

China's population decline is having a big impact as marriages, diamond sales, and retail spending drop

Travis McCourt, Raymond James institutional equity strategist, joins 'The Exchange' to discuss the markets as he anticipates a third unwind coming for the markets.

Raymond James' Travis McCourt says he's bracing for 'the third unwind' in the consumer

NewsBreak

Consumer sentiment tumbles as 'recession-like' symptoms spread among Americans

Consumer sentiment in the U.S. dropped to an eight-month low in July, according to the Consumer Sentiment Index from the University of Michigan. In a 2024...

Consumer sentiment tumbles as 'recession-like' symptoms spread among Americans

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