Income tax revenue replacement ‘remains to be seen,’ state budget director says
The comments from Indiana State Budget Director Zac Jackson came during a virtual panel discussion on the impacts an economic recession would have on state budgets.
Recession
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IBJ Podcast: Pete The Planner on how to prepare for the next recession
Pete the Planner talks to host Mason King about how to look at your budget and evaluate your readiness for a recession, and he offers advice about the kinds of changes that can help. Plus, he explains why you’re making a mistake if you try to time the market’s ups and downs.
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Belief that U.S. might avoid recession growing among economists
Analysts say a “rolling recession” and what they call a “richcession” could help the economy as a whole manage to avoid a full-fledged recession.
Survey: Business economists push back US recession forecasts
A third of the economists who responded to the survey now expect a recession to begin in the April-June quarter. One-fifth think it will start in the July-September quarter.
Can U.S. avoid recession? As inflation eases, optimism rises
An economic downturn is still possible. Yet in recent weeks, with inflation showing widespread signs of easing, a more cheerful view has gained traction: Maybe a recession isn’t inevitable after all.
Yellen downplays U.S. recession risk as economic reports loom
Treasury Secretary Janet Yellen spoke just before a slew of economic reports will be released this week that will shed light on an economy currently besieged by rampant inflation and threatened by higher interest rates.
Analysis: Recession risks rise as Fed faces daunting task
The latest inflation reading was supposed to offer hope that the U.S. economy had weathered the worst of the storm. But there was nothing reassuring in Wednesday’s report.
Fed’s Bullard: Solid U.S. economy can handle rising rates
St. Louis Federal Reserve President James Bullard said he currently supports a 0.75 percentage point increase in the Fed’s benchmark short-term interest rate at its next meeting later this month.
Fed’s aggressive rate hikes raise likelihood of recession
Economic history suggests that aggressive, growth-killing rate hikes could be necessary to finally control inflation. And typically, that is a prescription for a recession.
U.S. might be barreling toward recession in next year, more experts say
Although major swaths of the economy—including the job market and consumer spending—remain robust, there are mounting worries that rising borrowing costs for consumers and businesses, after years of near-zero interest rates, could cause a sudden retrenchment.
Powell: ‘Soft’ economic landing might be out of Fed’s control
Federal Reserve Chair Jerome Powell, fresh off winning confirmation for a second term, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession.
Yellen says more shocks likely to ‘challenge the economy’
Treasury Secretary Janet Yellen said Thursday in an address at the Brookings Institution that countries need to build in “recession remedies” to protect people in the U.S. and globally going forward.
Explainer: Bond yields might be warning of upcoming recession
The “yield curve” is watched for clues to how the bond market is feeling about the U.S. economy’s long-term prospects. On Tuesday, a closely followed part of the yield curve gave investors some cause for concern.
Millennial Money: Six Great Recession lessons that still apply
Save what you can, think twice before rejecting a job offer, protect your credit but protect yourself first and more from Millennial Money.
Beyond COVID podcast: Why a 90-day sprint is key to getting your company ready for the economy to restart
In this first episode of IBJ’s Beyond COVID podcast, Matt Neff offers advice for businesses trying to get back on track. And IBJ reporter Lindsey Erdody provides an update about Indiana Gov. Eric Holcomb’s stay-at-home order and, in particular, how the latest iteration affects liquor stores.
Effects of pandemic will slam state, local tax receipts
A former Senate budget writer said the hit to the state budget could be bigger than during the Great Recession, when state revenue dropped 15% over two years.
With unprecedented force and speed, a global recession is likely taking hold
Across the country, consumer spending—which supports 70% of the economy—is grinding to a halt as fears of the escalating coronavirus pandemic keep people from stores, restaurants, movie theaters and workplaces.
Business economists foresee slowdown in U.S. growth
The nation’s business economists think President Donald Trump’s trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
Economists survey: 74% expect U.S. recession by end of 2021
The economists surveyed were skeptical about prospects for success of the latest round of U.S.-China trade negotiations. Only 5% predicted that a comprehensive trade deal would result.
Hoosier manufacturers say they’ve been prepping for recession
Companies banged up during the Great Recession a decade ago have been preparing for the next slowdown by keeping workforces lean, adding technology and avoiding excessive debt.
Weak global growth likely to mean U.S. slowdown, not recession
Most analysts expect the U.S. economy to power through the rough patch, at least in the coming months, on the strength of solid consumer spending and a resilient job market.