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/
Ghana is interested in purchasing a floating nuclear power plant from Russia, Ghanaian Ambassador to Russian Koma Steem Jehu-Appiah told Sputnik.
"I know that our minister of energy was here last year and signed a corresponding agreement. I think this is innovative, and in a conversation with the minister of energy, he said that the country is interested.
So, Ghana could purchase such a nuclear power plant," the diplomat said when asked about the possibility of Ghana purchasing a floating nuclear power plant.
Russia and Ghana began cooperation in the field of nuclear energy after signing an intergovernmental agreement in 2015.
The agreement outlined plans for joint work in the areas of training specialists, building nuclear power plants and related infrastructure, and providing maintenance services. In October 2023, representatives of Rosatom met with the Ghanaian Ministry of Energy in Cape Town. At the meeting, Russia proposed using floating nuclear power plants to supply power to ...
