Economy

Josh Boak AP Economics Writer Published 4:38 PM EST Dec 18, 2018 Baltimore – Fears of a recession have been mounting with the U.S. stock market appearing to be headed for its worst December since 1931 – during the Great Depression. Wall Street’s sustained slump has been fueled by investor concerns about lower corporate profits, higher corporate debt, a festering trade war between the United States and China and a broader global slowdown. So is a U.S. recession imminent? Not necessarily. Plenty of economic gauges suggest that far from being derailed by a stock market that’s set to suffer its first annual loss in a decade, the $20 trillion U.S. economy is barreling forward. Employers are hiring, consumers are spending ahead of the holidays and economic growth has been brisk, thanks in part to President Donald Trump’s deficit-financed tax cuts. But the economy has been growing since mid-2009 and nothing – not even what’s become the … [Read more...] about Stock market slump likely to slow economy

Jonathan Lemire and Catherine Lucey Associated Press Published 6:43 AM EST Dec 18, 2018 Washington – Forget Robert Mueller. The greatest threat to President Donald Trump’s re-election bid may not be the slew of investigations closing in on his Oval Office but a possible economic slowdown. And the president knows it. The Dow Jones Industrial Average fell again Monday, the latest dip in the roller coaster markets amid the strain of Trump’s trade war, rising interest rates and worries about a slowing global economy. Trump, who has tied his political fortunes to the stock market in an unprecedented fashion, has nervously watched Wall Street, keeping an eye on the cable television ticker and barking at his aides for updates. And while he continues to talk up America’s financial might, he has repeatedly and publicly rebuked the chairman of the Federal Reserve for interest rate increases he feels could slow down the economy. Trump made his feelings clear again … [Read more...] about For Trump, the economy is a potential 2020 storm cloud

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