Nouriel Roubini, the economist whose dire forecasts earned him the nickname "Doctor Doom", told CNBC Monday that the economic recovery is going to be "very ugly."
UK gross domestic product (GDP) is likely to shrink by 4.5 percent this year, the largest decline since 1945, and recent hopes of recovery are running well ahead of reality, Ernst & Young warned in a forecast released Monday.
Investors should take a holiday from now on as the best part of the rally is over and now there are more chances that markets would go down, Marc Faber, author of the Gloom, Boom and Doom Report, told CNBC Friday.
We haven't seen the last of the crisis despite all talk about green shoots, and the surge in markets was caused by nothing more than the excess liquidity coming from central banks, Marc Faber, author of the Gloom, Boom and Doom Report, told CNBC Friday.
Although the depression scare is over, the economy is likely to remain sluggish for some years, said Robert Shiller, Yale University economics professor.
US stocks rallied on Wednesday, following a strong second-quarter earnings report from Intel on Tuesday after the bell, fueling hopes of a recovery led by technology companies. The S&P 500 posted its best 3-day percent gain since March 12, 2009, right at the start of the recent rally.
The Federal Reserve expects the economy will sink at a slower pace this year but unemployment will top 10 percent, according to a forecast contained in the latest minutes.
The Federal Reserve released the following economic forecast on Wednesday as part of the minutes of its June 23-24 policy meeting.
The Consumer Price Index was up .7% last month, while the core CPI rate, excluding energy and food, rose 0.2%. The consumer price index fell 1.19% in June from a year earlier.
While the Far East of Russia, China, and others may have animosity towards the West and specifically the United States economic hegemony, they are the masters of their own universe. They can move away from the US dollar as the world's reserve currency if they take steps to move away from the export model of economic growth for their countries.
Much like its stock market counterpart, the Oil VIX is showing a high level of uncertainty among investors as efforts intensify for stronger regulation of energy trading.
No one argues that the staggering deficits run up by the American government in a bid to rescue the economy are desirable, healthy or even sustainable — not if the national debt continues to swell at its current pace. But considerable debate centers on when and how vigorously to start easing off Washington’s borrowing habit, with substantial risks at both extremes, the New York Times reported.
The federal minimum wage is set to increase later this month, and that could be bad news for small business owners already struggling in a pinched economy.
The pace of the economic recovery heading into the fall—electric smooth or diesel rough—will determine whether Obama can prod Congress on the key features of his agenda with momentum or from a defensive crouch.
As the summer wears on and discontent grows, I expect calls will be louder and louder for additional stimulus from Congressional Democrats to put more Americans to work.
The stock market is still in danger of breaking through its March lows as the economy continues to struggle, economist David Rosenberg told CNBC.
French workers normally take off much of the summer, but this month, there is something of a revolution going on here at this former royal chateau roughly 30 miles southeast of Paris. The throngs of tourists will be jostling alongside stonemasons, restoration experts and other artisans paid by the French government’s $37 billion economic stimulus program, the New York Times reported.
Treasurys and other government bonds will prosper if the inflation threat stays at bay a little longer, and a slight fall in the Russian market would help the global economy, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC Monday.
The slide in employment is representative of what the US economy faces for years to come, Pimco's Bill Gross says.
Legislators in more than a half-dozen states, their revenues evaporating in the recession, frantically worked to stave off government shutdowns and devastating service cuts. California failed to meet a midnight deadline and now may need to issue IOUs instead of paying bills.