The downturn could have started sometime around last October, a former Federal Reserve advisor has said
The United States may already be in a “plain vanilla recession,” a former advisor to the Federal Reserve Bank of Dallas, Danielle DiMartino Booth, told CNBC on Monday. The statement comes as world stock markets nosedive over fears the US economy is weakening.
A cyclical or plain vanilla recession is one of the two types of demand-driven recession. These typically follow periods of policy tightening that are aimed at staunching excess demand or inflation problems.
According to DiMartino Booth, CEO and chief strategist for Quill Intelligence, the recession started sometime around last October. She pointed to a weakening job market and increasing Chapter 11 bankruptcy filings. Additionally, she said declining housing prices and increasing apartment supply suggest this trend may continue.
The US economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month, with raised interest rates taking a toll on businesses and households... .more below
https://www.rt.com/business/602196-us-economy-recession-unemployment/
Russian Foreign Ministry spokeswoman Maria Zakharova earlier said that the treaty provides for various forms of bilateral cooperation.
The comprehensive strategic partnership agreement between Russia and Iran has entered into force, Iranian Ambassador to Russia Kazem Jalali told Sputnik.
"It is already binding," Jalali said when asked about the date of entry into force of the agreement, as well as whether Iran had notified Russia of the completion of internal procedures.
He recalled that the treaty was ratified by both chambers of the Russian parliament, and Russian President Vladimir Putin signed it. At the same time, the document was ratified by the Iranian parliament, approved by the Guardian Council, and the president issued it as a law.
"Therefore, in both countries it currently has the form of a law and, naturally, has entered into force," Jalali said.
On January 17, Putin and his Iranian counterpart, Masoud Pezeshkian, met in Moscow to sign the Comprehensive Strategic ...
Defying the United States threats, ministers from more than 30 nations have packed Bogotá’s San Carlos Palace to charge the Israeli regime with genocide over its October 2023-present brutal military assault against the Gaza Strip.
The dramatic display of international solidarity saw dozens of high-ranking officials from across the globe convene inside the stately palace on Tuesday, determined to hold the regime accountable for, what they unequivocally called, a “war of genocide.”
The two-day emergency summit, organized under the auspices of The Hague Group -- a coalition co-chaired by Colombia and South Africa -- had representatives, ranging from such countries as Algeria and Brazil to Pakistan and Spain, in attendance.
The participants described the drive as a coordinated effort to stop the Israeli atrocities.
Behind closed doors, ministers and envoys, meanwhile, engaged in intensive sessions aimed at drafting collective measures to pressure the regime -- steps expected to be unveiled by ...
