Banks are on sound financial footing even as the world’s economy wobbles from a series of shocks, according to the 2023 Banking and Capital Markets Outlook by Deloitte released today.
Inflation slowed to an annual pace of 8.3% in August, down from 8.5% the prior month.
Confidence among the nation’s CEOs in the future economic outlook dipped in the third quarter amid persistently high inflation and higher interest rates, as well as geo-political factors, according to the latest Business Roundtable CEO Economic Outlook Index released this week.
As inflation remains elevated and consumers face persistently higher prices for goods and services, nearly two-thirds—64%—of them are now considered “financially unhealthy,” according to new data released by J.D. Power.
Real gross domestic product decreased 0.9% in the second quarter of 2022, marking the second consecutive quarter of GDP decline, according to an advance estimate released today by the Commerce Department.
The Federal Reserve raised interest rates by three-quarters of a percentage point to a target range of 2.25% to 2.5%, the Federal Open Market Committee announced today.
Markets expect at least a 75 bps hike at the next FOMC meeting, which takes place July 26-27. More than half of respondents expect the Fed will need to increase rates an additional 100 bps over the next year to tame inflation.
As the Financial Accounting Foundation considers a proposed strategic plan, ABA is recommending the organization consider ensuring that post-implementation reviews (PIRs) are conducted on a regular basis and that FAF takes a leadership role in helping bridge the gap between investor expectations and reporting on environmental sustainability.
The spread between the two-year and 10-year notes dipped negative last Monday for the first time since April. Historically, protracted inversions of the yield curve have preceded U.S. recessions.
Google Trends data show that searches including the terms “inflation” or “recession” have increased in recent months, peaking in mid-June. By comparison, searches including the term “stagflation” remain low.