'Recession shock' is coming, Bank of America warns
CNN
Bank of America is warning that high inflation poses a credible threat to the economic recovery that began just two years ago.
"'Inflation shock' worsening, 'rate shock' just beginning, 'recession shock' coming," Bank of America chief investment strategist Michael Hartnett wrote in a note to clients on Friday.
The warning came ahead of a new government report on Tuesday that showed consumer prices surged by 8.5% in March, the fastest pace since December 1981. There were record year-over-year price spikes on everything from new vehicles and men's apparel to baby food and salad dressing.
The Trump administration is removing numerous career ambassadors from their posts abroad, marking the latest shake-up of the US State Department and diplomatic corps.
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For more than a month, a Virginia high school football coach accused of child pornography offenses has remained missing after vanishing from his home without a trace.
They are still the rarest of Republicans – those who have spoken out and stood up to President Donald Trump over the past year, willfully saying something he rarely hears: No.
The Trump administration has signaled to the Smithsonian Institution that the White House could withhold federal funding from the museum organization if it does not comply with the administration’s unprecedented, sweeping review.
This weekend’s gathering of young Republicans and conservative influencers in the Arizona desert offered a glimpse into the divisions already fraying President Donald Trump’s coalition even before its lame-duck leader is out of the picture.
The US is pursuing a vessel in international waters near Venezuela on Sunday after attempting to intercept it, a US official said, as President Donald Trump’s administration tightens its crackdown on the country’s oil industry.
Power was restored Sunday morning to the bulk of the 130,000 homes and businesses in San Francisco impacted by a massive outage on Saturday that caused major disruptions in the city.
When Rep. Dan Goldman first ran for Congress in 2022, he was cheered on the left as the party’s top lawyer during President Donald Trump’s first impeachment.
A dog desperately needing a potty break led Elaine Traverse to find a statue that had been the talk of the town in Canada’s Harbour Grace for months.
Police lights flashed for hours as law enforcement officers surrounded a storage facility in Salem, New Hampshire Thursday night, finally closing in on a suspect who unleashed deadly attacks on two communities and had managed to evade them for six days.
The National Transportation Safety Board is investigating after seven people – including former NASCAR driver Greg Biffle – died when a small private jet crashed shortly after takeoff in Statesville, North Carolina, this week, investigators said Saturday.
Personnel from the United States boarded and seized a vessel off the coast of Venezuela, according to an official familiar with the matter, as the Trump administration ramps up pressure on Caracas.