While most economists have stopped worrying that the U.S. will fall into a double-dip recession, one influential economist maintains his position that the nation won't be able to avoid a new downturn.
Douglas J. Elliott, who worked as an investment banker for two decades, is a fellow at the Brookings Institution.
The eurozone economy shrank in the fourth quarter of 2011, but pockets of strength from France and Germany offset some of the contraction.
The British economy shrank by an estimated 0.2% in the last quarter of 2011, the Office of National Statistics announced Wednesday, but the country is not yet in recession because growth was positive in the quarter before that.
There's no shortage of debate as to whether the Obama administration and Congress have done the right things in attempting to avert a debt crisis and revive the stalled economy.
More than one in five Americans saw at least a quarter of their available household income vanish each year during the Great Recession, and they lacked a sufficient financial cushion, according to a report released Monday.
European economic growth was once again virtually nonexistent in the third quarter, further raising the risk that the continent could soon fall into a new recession.
The European Central Bank cut interest rates for the first time in two years Thursday, reversing a direction set earlier this year, as the new head of the monetary authority said Europe is heading into a mild recession.
The US and much of Europe may already be in recession while demand is dropping sharply in emerging markets, the head of one of the US's biggest manufacturers has warned.
updated: Sun Oct 16 2011 21:34:00
CNN talks to Australian Treasurer Wayne Swan on how the European financial crisis is impacting the world economy.
The U.S. economy is staring down another recession, according to a forecast from the Economic Cycle Research Institute.
The recession alarm bells were ringing across the globe Thursday, spooking investors and economists alike.
There are growing fears that a European country could default on its debt and spark a crisis in the global financial system. But even if authorities can stave off a default, Europe could still be headed for recession.
Investors flocked to the safety of Treasuries Friday after the government released a dismal report about the U.S. job market, heightening worries about another recession.
As if Friday's report that showed job creation at a dead stall wasn't bad enough, economists say the worst could be yet to come.
U.S. stocks were headed for another day of losses Friday, as worries of a global slowdown and Europe's debt crisis sparked a second sell-off in global markets.
Right before the recession hit, the U.S. was undergoing a mini baby boom. Now, birth rates are declining fast.
Americans boosted their shopping in July, allaying -- for now -- fears of a consumer slowdown that might stall the economy.
At a time when the economy seems to be hanging by a thread, the Labor Department reported at least some better news about the job market Thursday.
The risk of double dip recession is rising.
Global investors have lost confidence in the economic recovery -- and for good reason.
The job market strengthened in July, a welcome piece of good news that sharply contrasted other recent data pointing toward an economic slowdown.
Cue the collective sigh of relief! A government report showed the job market fared better than expected in July.
There are growing warnings that the United States could fall into a new recession, even with its debt ceiling crisis finally behind it.
Economists say the debt ceiling debate has already damaged the U.S. economy, and many worry that a deadlock could send the country hurtling into a double-dip recession.
The Great Recession had many lasting negative effects -- high unemployment, falling home prices, stunted growth -- just to name a few. But the news isn't all bad.
History shows that the suicide rate tends to rise as the economy falls, but due to a lack of solid data, researchers haven't been able to confirm whether that pattern has held during the most recent economic crisis, the worst since the Great Depression.
U.S. policymakers are racing to reach an agreement before the debt ceiling is breached. But the biggest risks to the U.S. economy are mostly out of their hands.
updated: Fri Jul 01 2011 05:59:00
Newly-anointed chief White House correspondent Jessica Yellin questions Pres. Obama on a debt ceiling deal and deadline.
This is the only number that matters: 350.
Experts worry that the risk of falling into another recession has increased, according to a CNNMoney economic survey.
The struggling U.S. economy is in even worse shape than it appears, and the Obama administration has done little to help, according to influential economist Martin Feldstein.
The private sector must become the driver of a still fragile economic recovery buffeted by high gas prices, the Japanese earthquake and tsunami and other "headwinds" so far this year, President Barack Obama's top economic adviser said Sunday.
U.S. economic growth remained disappointingly weak the first three months of the year, the government reported Thursday.
While the overall job market was crippled by the effects of the Great Recession, some sectors never stopped hiring.
Think of them as the industries the recovery has left behind.
Today's economic password is ... "transitory."
The hot topic of income equality gets especially emotional now, at tax time, and will get even more so this year, with the latest IRS data showing what happened in the recession.
Job creation was much weaker in the Great Recession than in previous downturns -- partly because startups were harder hit this time around. The rate of job creation among all types of firms hit a 29-year low from March 2008 to March 2009, according to a report released Wednesday by the Kauffman Foundation.
The worst storm in the history of modern yacht racing was the monster gale that struck the Fastnet race in the summer of 1979. The Fastnet (named after its turnaround point, Ireland's southernmost spot) is one of racing's most prestigious events, and it had attracted more than 300 competitors, including several of the world's most famous and successful boats. Conditions were fine at the starting gun, and while a storm was predicted, not even the best forecasters had imagined how ferocious it would be. At its worst, waves were 50 feet high and winds were 70 mph, devastating many of the boats and terrifying many skippers. Of the 306 yachts in the race, 69 didn't finish, including some of the most exalted competitors; 23 sank or were abandoned. The winner was the brashest of yachting's young disrupters, 40-year-old Ted Turner. His strategy? "We kept going at full speed during the height of the storm," he told an interviewer. But wasn't he afraid? After all, 15 people died. Yes, he said,
Now that the skies are clearing after the worst economic storm in modern history -- far more violent than the experts had predicted -- we face a surprising new roster of winners and losers, as our 2011 ranking of the World's Most Admired Companies makes clear.
Gas prices are up nearly 6 cents this week and analysts say this is just the beginning, as oil prices soar on political strife in North Africa and the Middle East.
Many stock market analysts and financial journalists currently point to Professor Robert Shiller's cyclically adjusted price earnings (CAPE) ratio to prove their assertion the stock market is overvalued by nearly 45% (see Don't believe the rosy forecasts as an example). The CAPE ratio attempts to smooth out the cyclicality of earnings by dividing the S&P 500 price by the average of ten years of historical real earnings. The current CAPE ratio is around 24 times earnings while the long-term CAPE average is approximately 16 times -- this, according to CAPE proponents, implies that stocks are currently significantly overpriced by historical standards.
Like a dripping faucet filling up a sink, yields on U.S. Treasuries have been slowly rising for several months now -- raising concerns that inflation may be on the horizon.
2010 has been, to quote Frank Sinatra, a very good year for the markets.
President Barack Obama's top aides on Wednesday defended the tax plan hammered out with Republican leaders, saying Democrats are coming around to the reality that the agreement contains plenty of good things despite proposals they dislike.
updated: Thu Dec 09 2010 05:28:00
David Axelrod, senior adviser, President Obama, responds to Democrats' reactions over extension of Bush-era tax cuts.
Commentary: Lakshman Achuthan and Anirvan Banerji are, respectively, co-founder and chief operating officer and co-founder and chief research officer of ECRI, the Economic Cycle Research Institute. The good news is that the much-feared double-dip recession is not going to happen.
President Barack Obama made the case Thursday that his administration's steps to avoid an economic depression and promote small business growth helped women, who now comprise half the U.S. workforce and increasingly are opening their own businesses.
Michael and Steven Roberts are business moguls navigating the global recession, but they say the lessons they have learned could be applied to any business owner.
Let us tell you an ugly truth about the economy, a truth that no one in power or who aspires to power wants to share with you, at least until after the midterm elections are over.
Let us tell you an ugly truth about the economy, a truth that no one in power or who aspires to power wants to share with you, at least until after the midterm elections are over.
The International Monetary Fund said a double dip recession is unlikely, but it expects growth in developed economies to be outpaced by emerging powerhouses.
Would you like a 6% raise in your next paycheck? Some economists want to give you one -- in the form of a payroll tax holiday -- to stimulate the struggling economy.
Will the United States slip back into recession? Not likely.
U.S. stocks finished higher Tuesday as a drop in consumer confidence and a mixed reading on home prices failed to sink recovery hopes.
Economic experts may believe the recession is over, but try telling that to the public.
The Great Recession ended in June 2009, according to the body charged with dating when economic downturns begin and end.
President Obama said Monday that his economic policies helped prevent a depression, although he acknowledged that many Americans are still struggling.
Treasury yields eased Monday as investors swung back into U.S. government bonds, reversing the momentum from last week's sharp sell-off that pushed yields to monthly highs.
This week, the Obama administration began outlining additional measures to jumpstart the economy and create jobs.
Stocks started September with a bang as investors cheered a rare dose of good economic news but investors may need to buckle in for the coming week: It's a holiday-shortened week with little on the docket to set the tone.
U.S. companies modestly added jobs in August, easing concerns that the nation might slip back into a recession. The latest jobs report released by the Labor Department today is better than expected. Employment in the private sector rose by 67,000 payrolls, after a revised 107,000 increase in July that was more than originally estimated. The report immediately sent stocks rallying, despite the fact that overall employment dropped and the unemployment rate climbed to 9.6% from 9.5%, as more people actively searched for jobs.
The number of babies born in the United States dropped 2.6 percent last year, according to a recent study, the latest in a long list of falling indicators.
updated: Mon Aug 30 2010 09:41:00
CNN's Maggie Lake speaks to two leading economists on the prospects for another recession.
The U.S. economy sputtered to a near stop in the second quarter, according to new estimates from the government released Friday, although the slowdown wasn't as bad as many had feared.
The great debate on Wall Street is whether the recovery that spurred stock prices to nearly double between March 2009 and April 2010 is about to be snuffed out. The evidence for a "double dip" recession: Europe's economy is teetering; federal stimulus that propped up the credit and housing markets is nearly exhausted; retail sales and manufacturing are declining again.
The chance of a national double-dip recession is hotly debated amid an increasing number of signs that the economic recovery is losing pace, but the risk is particularly troublesome on a local level.
Investors lined up around the block last week to get a piece of Johnson & Johnson's newest debt offerings, even though the yields were small enough to fit on a Q-tip. Ditto for new debt from IBM, Wal-Mart and a host of other investment-grade corporations.
It's time to put to bed this silly notion that the still weak labor market is nothing to worry about because jobs are a lagging economic indicator.
The National Bureau of Economic Research is known to be slow at declaring the starts and stops of a recession, but it looks as if it might have been right to hold off on any bold declarations this time around, potentially proving many policymakers and Wall Street analysts wrong.
When it comes to investing in small companies, there are usually a couple of things you can be sure of.
The U.S. economy continued to grow during the second quarter, the government reported Friday. But the pace slowed more than economists were expecting, raising concern about growth - or even another recession - in the months ahead.
The economy is heading nowhere fast. That's the bad news. But the good news is that it still seems like consumers may have actually learned a lesson or two about reckless fiscal behavior.
What do pancakes, tapeworms, old soda and the stock market have in common? They're all flat.
Despite groans from Republicans about high unemployment and the growing national deficit, President Obama's administration continues to say the $787 billion stimulus is working.
The risk of a double-dip recession is getting a lot of attention, but even that grim prediction could prove a little too optimistic.
So far, so good when it comes to second quarter earnings reports.
Here's what we know about double dip recessions: The economy shrinks. Then grows. Then shrinks again. It's essentially a hilly economic recovery (or battle) where the ebb and flow of growth strangely takes a W-shape.
Investors returning from a long holiday weekend better come back well rested, as the weeks ahead bring something of a battle.
The recession killed off 7.9 million jobs. It's increasingly likely that many will never come back.
Before the economic recession hit in 2007, Lana Melnik was a college counselor at Northeastern University in Massachusetts guiding hundreds of students towards employment.
Europe's debt crisis. Companies still not hiring. The Gulf oil spill. These are uncertain times to say the least. But while you might think economists would be running for the hills and looking ahead to a so-called "double dip recession," that's not necessarily the case.
Economists generally aren't worried about the U.S. or global economy falling into another recession. Looking at the bond market, many investors don't agree.
The conventional wisdom about consumers and recessions goes something like this: when the economy stinks, people trade down -- or they splurge on trivial indulgences like lipstick or booze. They're more likely to succumb to their vices -- depression, after all, is rampant during economic downturns -- propping up the alcohol, gambling, and candy industries.
John Miller wasn't too nervous when he lost his job in the mortgage industry in June 2008.
The panel of economists responsible for officially deciding the length of recessions said Monday that it's "premature" to say when the recent downturn ended.
With unemployment still at a severe high, a majority of states have drained their jobless benefit funds, forcing them to borrow billions from the federal government to help out-of-work Americans.
Despite modest January job losses the good news for job seekers is that after a brutal recession that swallowed stimulus packages whole with barely a burp, the business cycle is finally your friend in 2010.
As bad as the government's jobs readings numbers have been during the Great Recession, we'll soon find out the real situation likely was worse.
The top-grossing movie in the world, Avatar, is on screens now, and it clearly identifies the most evil force in the universe. It's business.
Congress will soon spar over how to spur jobs.
Think recessions spur laid-off workers to launch new ventures? Think again.
Employers once again slashed a substantial number jobs off their payrolls in December, according to a disappointing report from the government Friday. But there was a small glimmer of hope as well.
Since cratering at 12-year lows in March, the S&P 500 has staged a powerful rebound as investors turned what could have been an abysmal 2009 into the second best year of the decade for stock returns.
Economists are in broad agreement that the Great Recession is over. The American public strongly disagrees.
Economic growth was weaker in the third quarter than originally reported, according to government data released Tuesday.
Nearly two years into the recession, opinion about which political party is responsible for the severe economic downturn is shifting, according to a new national poll.
Nearly two years into the recession, opinion about which political party is responsible for the severe economic downturn is shifting, according to a new national poll.
The Fearful, The Engaged, The Apocalyptic: They're not new Hollywood blockbusters, they're three of the seven types of recession-era employees identified by a new survey.
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