If this turning point comes, the U.S. may soon see the fortunes of middle- and lower-class workers rising.
The IMF has downgraded its global growth forecast, citing a weaker-than-expected first quarter, and a "less optimistic" outlook for emerging markets.
U.S. unemployment claims hit their lowest level in nearly 9 years, suggesting the labor recovery was gaining traction.
New U.S. single-family homes fell sharply in June, suggesting the housing market would struggle to regain momentum.
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