Deutsche Bank is the first big bank to forecast a US recession
CNN
The Federal Reserve's fight against inflation will spark a recession in the United States that begins late next year, Deutsche Bank warned on Tuesday.
The recession call -- the first from a major bank -- reflects growing concern that the Fed will hit the brakes on the economy so hard that it will inadvertently end the recovery that began just two years ago.
"We no longer see the Fed achieving a soft landing. Instead, we anticipate that a more aggressive tightening of monetary policy will push the economy into a recession," Deutsche Bank economists led by Matthew Luzzetti wrote in the report.
President-elect Donald Trump has selected Russell Vought as his pick to lead the Office of Management and Budget, he said in a Truth Social post.
President-elect Donald Trump on Friday announced Republican Rep. Lori Chavez-DeRemer of Oregon as his pick to serve as the next secretary of the Department of Labor.
Tulsi Gabbard, Donald Trump’s pick to lead the intelligence community, was briefly placed on a Transportation Security Administration list that prompts additional security screening before flights after her overseas travel patterns and foreign connections triggered a government algorithm earlier this year, three sources familiar with the matter told CNN.
The Supreme Court agreed Friday to wade into a fight over Congress’ ability to delegate power to federal agencies — opening the next chapter in a decadeslong effort by conservatives and business interests to reduce the power of the federal government.
At least three professional sports leagues warned their teams this week that organized and skilled groups are targeting the homes of athletes for break-ins, including while the players are away at games. The warnings came after reports of burglaries at the homes of players in the NBA and the NFL.
The Nicaraguan parliament, dominated by the ruling Sandinista Front, on Friday approved a constitutional reform that hands more power to President Daniel Ortega as well as the Central American nation’s police and military.
A Norwegian man working as a security guard for the US Embassy in Oslo was arrested this week on allegations of spying for Russia and Iran.
Gorilla at Calgary Zoo died after worker mistakenly activated wrong door, zoo officials say
President-elect Donald Trump is expected to offer Kelly Loeffler the job as of secretary of the Department of Agriculture, two people familiar with the matter told CNN.
Former Florida Rep. Matt Gaetz, who withdrew from consideration as President-elect Donald Trump’s pick for attorney general on Thursday, said Friday he will not be returning to Congress next year.
Republican Dave McCormick will defeat Pennsylvania Sen. Bob Casey, CNN projects, boosting the GOP majority in the Senate next year.