CEOs are preparing for a recession, and they don’t think it will be short

New York CNN Business — Major CEOs don’t believe the US economy could make a soft landing after a series of historically large rate hikes by the Federal Reserve to fight inflation. According to a survey of 400 leaders of major US companies by consulting firm KPMG, a whopping 91% predict a recession in the … Read more

Food stamp benefits increase by 12.5% ​​from October due to inflation

CNN — Starting in October, it will be a little easier for food stamp recipients to pay for groceries. According to the U.S. Department of Agriculture, their monthly benefits are increasing by 12.5%, or $104 for a family of four, thanks to rising inflation. That puts the maximum benefit for this household at $939 per … Read more

Consumers are becoming more optimistic about the US economy

CNN — Consumer confidence rose for the second month in a row in September, as moderating gas prices and hoping that inflationary pressures could ease helped improve the collective mood of the nation. The Conference Board reported Tuesday that the baseline index rose to 108 from a revised 103.6 in August, the highest since April. … Read more

Food prices are rising, which has changed the way we eat

New York CNN Business — Lisa Altman was always proud that she could eat whatever she wanted without worrying much about the cost. Growing up, seconds were not served and side dishes were rare. “My mom had a budget every week and she stuck to it,” she said. “As I got older and became more … Read more

Fed’s fight against inflation could cost US 1.2 million jobs

Minneapolis CNN Business — In its efforts to reduce historic inflation and cool the economy, the Federal Reserve has used multiple euphemisms to describe the potential impact on Americans’ jobs, from economic “pain” to “unfortunate costs” and a job market”. However, data does not mince words. The Fed’s latest economic forecast, released Wednesday alongside a … Read more

IMF chief warns there will be ‘people on the streets’ worldwide unless measures are taken to reduce inflation

CNN — There will be “people on the streets” worldwide unless measures are taken to protect the most vulnerable from inflation, Kristalina Georgieva, the head of the International Monetary Fund (IMF), warned Wednesday. “It’s important to remember that this composite impact of multiple crises is already testing people’s patience and resilience. And if you don’t … Read more

Opinion: Many have lost faith in the Fed. Will it be able to regain our trust?

Editor’s Note: Mohamed A. El-Erian is the president of Queens’ College at Cambridge University, the Renee Kerns Professor at Wharton Business School, senior fellow of the Lauder Institute and advisor to Allianz and Gramercy. He serves on the boards of Barclays, the NBER and Under Armour. The opinions expressed in this commentary are his own. … Read more

Biden declares the pandemic over. People behave like this too

CNN — President Joe Biden made several unequivocal and controversial statements in an interview with “60 Minutes” that aired Sunday. Amongst them: There was some ambiguity about a number of other topics. His plan is to be re-elected in 2024, but no final decision has been made yet. About the classified documents found at Mar-a-Lago, … Read more

Parents struggle with inflation: ‘I left that $25 backpack for my toddler at the checkout. ‘

New York CNN Business — While Sarah Longmore finished her school shopping, the mother of five looked at a $25 backpack for her preschooler. The skyrocketing inflation had crushed the family budget, and she decided her daughter could do it with a hand-me-down. She put the backpack back. Like Longmore, many parents — regardless of … Read more