New York (CNN Business) JPMorgan Chase kicked off earnings season Wednesday with some bad news: First-quarter profit fell 42% from a year ago, driven lower by Russia’s invasion of Ukraine, high levels of inflation and supply chain problems.
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London (CNN Business) Germany would plunge into a deep recession if its supply of Russian natural gas was suddenly shut off, the country’s top forecasters warned on Wednesday. The country would lose 220 billion euros ($238 billion) in economic output …
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Warning lights are flashing for the U.S. economy. A growing number of forecasters now believe a recession is on the horizon as the Federal Reserve gears up to raise interest rates sharply to combat the highest inflation in more than 40 years.
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New York (CNN Business) US inflation kept moving higher in March and the Producer Price Index is the latest data point showing the price pressure. The index, which measures what America’s producers get paid for their goods and services on average over …
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Separate remarks from Federal Reserve Governor Lael Brainard and Richmond Fed President Thomas Barkin on the post-pandemic outlook showed an emerging rift in the views of Fed leaders, who all currently see the need to raise interest rates aggressively this …
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