Jeremy SiegelScott Mlyn | CNBC Wharton School Professor Jeremy Siegel no longer thinks it's vital for the Federal Reserve to implement an emergency interest rate reduction, but still wants policymakers to cut quickly and aggressively.Siegel, chief economist at WisdomTree, caused a stir Monday when he told CNBC that Fed Chair...
Category: Economy
No sign of U.S. recession in freight demand, CEO of shipping giant Maersk says
Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession as freight demand remains robust, the company's chief executive said Wednesday."We've seen in the last couple of years, actually, [the shipping container] market remaining surprisingly resilient to all the fear of recessions that...
Jobless rates fall in July for Asian Americans, bucking the overall trend
A sign for a health-care career fair at Cape Fear Community College in Wilmington, North Carolina, on Feb. 28, 2023.Allison Joyce | Bloomberg | Getty ImagesThe unemployment rate fell for Asian Americans from June to July, bucking a broader trend, according to data released Friday by the U.S. Bureau of...
Euro zone’s economy grew 0.3% in second quarter, above expectations despite German contraction
The lights of Frankfurt am Main's banking skyline glow in the last light of day.Boris Roessler | Picture Alliance | Getty ImagesThe euro zone's economy grew by more than expected in the second quarter of 2024, flash figures from the European Union's statistics office showed Tuesday.The zone's gross domestic product...
U.S. economy grew at a 2.8% pace in the second quarter, much more than expected
Economic activity in the U.S. was considerably stronger than expected during the second quarter, boosted by a strong consumer, government spending and a sizeable inventory build, according to an initial estimate Thursday from the Commerce Department.Real gross domestic product, a measure of all the goods and services produced during the...