“It is better to be early and aggressive if you see a slowdown than wait until you’re sure the economy is in recession,” he told CNN in an interview on Thursday. “We don’t know yet, are we headed for a recession. That’s not my base-case scenario. But the risks have increased quite a bit.”
Real estate had the largest annual gain last year since 2008, solidifying its position as the biggest segment of the U.S. economy, reflecting the evolution of America Inc. since the depths of the great recession a decade ago. Manufacturing remained third in importance.
1/FED IN A HOLE
The South American nation’s long-term issuer rating was lowered by three notches to CCC, signifying a “substantial” risk of default and putting Argentina on par with Zambia and the Republic of Congo.
MEXICO CITY (Reuters) – The Mexican central bank’s surprise interest rate cut on Thursday is likely to have a limited impact at best on lifting growth this year after the sluggish economy narrowly avoided recession in the first half of 2019, analysts say.
Chancellor Angela Merkel and Finance Minister Olaf Scholz would be willing to increase debt in order to offset a tax revenue shortfall due to an economic slump, the magazine said, citing sources in the chancellery and the finance ministry that it did not identify by name.