Americans under age 50 were more than $9.5 trillion in debt in this year’s third quarter, compared to about $9.3 trillion in the preceding three months, marking the largest quarterly increase since 2022’s fourth quarter, U.S. Federal Reserve data shows.
U.S. inflation is not yet tamed and the U.S. Federal Reserve is more likely to raise interest rates than cut them if any change is needed, Fed chair Jerome Powell said in a 9 November speech to a conference of the International Monetary Fund.
What a difference a month makes. The U.S. equity market continues its November spike.
James Gorman, Morgan Stanley’s CEO for the past 12 years, has sold $48 million worth of his hoard of Morgan stock so far this year, bringing the total he has cashed in to $78 million. Ted Pick, who will take over for Gorman in January, has sold $30 million worth of his shares, according to the Financial Times.
The U.S. job numbers reported last week, as we have detailed, were weak... as they are throughout much of the world.
In this year’s third quarter, 182 major U.S. businesses filed bankruptcy, according to S&P Global Market Intelligence.
On 1 November, the U.S. Federal Reserve announced it will continue to hold its key interest rates steady at 5.25 percent on deposits and 5.5 percent on loans. The Fed has not changed the rates since July.
Worried about the economic future, what to invest in, and what to do? Never before in modern history will it be so important to look beyond the economic perimeter and understand the crucial megatrends shaping the future.
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…all made worse by the COVID War which destroyed the lives and livelihoods of billions across the globe.
How much more proof do people need to see the dismal economic future? For the mainstream media, the only numbers that count are stock indexes. Welcome to week 60 or our job layoffs... of a bad situation getting worse.