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JPMorgan CEO Jamie Dimon told wealthy clients there's a chance the US is heading into 'something worse' than a recession, report says
Independent via yahooo ^ | 8/14/2022 | (Hannah Towey) - Yesterday 12:30 PM
Posted on 8/15/2022, 7:41:30 PM by RomanSoldier19
JPMorgan Chase CEO Jamie Dimon estimated last week the probability that the US would head into a recession, according to a Yahoo Finance report published Saturday.
Dimon reportedly said on a client call Tuesday that the economy was "strong" but "storm clouds" were on the horizon, including federal monetary policies, Russia's invasion of Ukraine, and rising oil prices. The categorization is an apparent downgrade from Dimon's previous comments in June when he warned of an "economic hurricane."
(Excerpt) Read more at msn.com ...
TOPICS: News/Current Events
Soul Crusher:
New York Empire State factory gauge plunges in August deep into contraction territory
Market Watch ^ | 8/16/22 | Greg Robb
Posted on 8/16/2022, 5:43:16 AM by EBH
General conditions index drops 42 points to negative 31.3 — the second largest decline on record
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to negative 31.3 in August, the regional Fed bank said Monday.
This is the second largest monthly decline on record and among the lowest levels in the survey’s history, the regional Fed bank said.
Economists had expected a reading of 5.0, according to a survey by The Wall Street Journal.
Any reading below zero indicates deteriorating conditions.
Key details: The index for new orders dropped 35.8 points to negative 29.6 in August.
The shipments index fell 49.4 points to negative 24.1.
Unfilled orders fell for the third straight month.
Labor market conditions weakened. The prices-paid index fell 9 points to 55.5, its lowest level in over a year.
In addition, manufacturers were not optimistic about the six-month outlook.
Big picture: Economists were expecting a small retreat in the factory index, not a rout. The U.S. manufacturing sector, which was a strength during the recovery from the pandemic, is facing a steep drop-off in new business.
The New York data, and a similar reading from the Philadelphia Fed, are seen as early indicators for the health of the factory sector in August.
The closely-watched Institute for Supply Management’s barometer of American factories fell to a two-year low of 52.8% in July.
(Excerpt) Read more at marketwatch.com ...
Andy Griffin:
--- Quote from: Soul Crusher on August 16, 2022, 04:41:02 AM ---New York Empire State factory gauge plunges in August deep into contraction territory
Market Watch ^ | 8/16/22 | Greg Robb
Posted on 8/16/2022, 5:43:16 AM by EBH
General conditions index drops 42 points to negative 31.3 — the second largest decline on record
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to negative 31.3 in August, the regional Fed bank said Monday.
This is the second largest monthly decline on record and among the lowest levels in the survey’s history, the regional Fed bank said.
Economists had expected a reading of 5.0, according to a survey by The Wall Street Journal.
Any reading below zero indicates deteriorating conditions.
Key details: The index for new orders dropped 35.8 points to negative 29.6 in August.
The shipments index fell 49.4 points to negative 24.1.
Unfilled orders fell for the third straight month.
Labor market conditions weakened. The prices-paid index fell 9 points to 55.5, its lowest level in over a year.
In addition, manufacturers were not optimistic about the six-month outlook.
Big picture: Economists were expecting a small retreat in the factory index, not a rout. The U.S. manufacturing sector, which was a strength during the recovery from the pandemic, is facing a steep drop-off in new business.
The New York data, and a similar reading from the Philadelphia Fed, are seen as early indicators for the health of the factory sector in August.
The closely-watched Institute for Supply Management’s barometer of American factories fell to a two-year low of 52.8% in July.
(Excerpt) Read more at marketwatch.com ...
--- End quote ---
The board's resident libtards and fagg0ts will certainly "fact check" this data and determine that it is President Trump's fault ::)
Soul Crusher:
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Joe Biden Removes Mask and Coughs into Hand After Close Contact with Coronavirus
Breitbart ^ | 08/16/2022 | Charlie Spiering
Posted on 8/16/2022, 6:25:18 PM by ChicagoConservative27
President Joe Biden flouted coronavirus mask protocols on Tuesday after his wife Jill Biden tested positive for the virus.
The president was spotted removing his mask to deliver a speech and immediately coughed into his hand after shaking hands with Sen. Chuck Schumer.
(Excerpt) Read more at breitbart.com ...
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