The markets have rallied this year as investors believe inflation will continue to ease and that the economy will avoid a recession – but it could end in tears.
The U.S. economy grew at an annual rate of 2.9% in the final three months of last year — a surprisingly strong finish. But growth is expected to slow in 2023, and possibly even reverse.
The layoffs at Google follow similarly huge cuts at Microsoft, Amazon and Salesforce. Tech companies who hired rapidly during the pandemic now face fears of recession.
Liz Truss' resignation as Prime Minister is being blamed on a faulty economic plan. But her fate should serve as a warning to other countries that may have to grapple with an inconceivable choice.
Nearly all the chief executives in a new survey — 98% — say they're getting their ducks in a row for an impending economic downturn in the United States.