• Not a recession-yet: The Fed's overly aggressive interest rate hikes increase risk of recession

    1 month ago - By Economic Policy Institute

    Yesterday's data showing negative gross domestic product growth for the second consecutive quarter has sparked a debate about whether the U.S. economy is in recession. Below are some quick thoughts interpreting the numbers, and some larger questions about recession and inflation.
    We're very likely not in recession currently, even though we've had two straight quarters of negative GDP growth. The “two straight quarters” criterion for a recession is a rough rule of thumb. The more generally accepted arbiter of business cycles in the U.S. is the National Bureau of Economic Research Business...
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  • Mortgage rates fall sharply after negative GDP report and Fed's latest hike

    1 month ago - By CNBC

    The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, according to Mortgage News Daily.
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