U.S. has 40% chance of tumbling into recession next year, Wall Street analysts say
CBSN
The U.S. has a 40% chance of entering a recession in 2023, Wall Street analysts say, noting that the odds of a downturn happening this year are low.
In a client note, Bank of America Global Research also criticized the Federal Reserve for failing to move earlier to raise interest rates in an effort to curb inflation.
"Our worst fears around the Fed have been confirmed: They fell way behind the curve and are now playing a dangerous game of catch up," analysts wrote. "We look for GDP growth to slow to almost zero, inflation to settle at around 3% and the Fed to hike rates above 4%."
Jeff Bezos' Blue Origin launched six space tourists on a high-speed dash to the edge of space and back Friday, giving the passengers — including a husband and wife making their second flight — about three minutes of weightlessness and an out-of-this world view before the capsule made a parachute descent to touchdown at the company's west Texas flight facility.
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Organic carrots and celery sold at Whole Foods Market in five states are being recalled amid a deadly E. coli outbreak that has stricken 39 people in 18 states.
It's well-documented that women in the workplace often face biases when seeking leadership roles, but new research is uncovering just how pervasive and wide-ranging those prejudices can be.
President-elect Donald Trump's sentencing for his May criminal conviction has once again been delayed, a judge ruled Friday.
Washington — The Supreme Court on Friday dismissed Facebook's appeal of a lower court order reviving a shareholder lawsuit brought against the social media giant in light of consulting firm Cambridge Analytica's 2015 misuse of millions of Facebook users' data.
Sen. JD Vance's election as vice president has opened up one of Ohio's U.S. Senate seats for the third time in as many years, setting off a scramble for the appointment among the state's ruling Republicans.
An 84-year-old Texas man has been charged with first-degree murder after allegedly killing his roommate and her dog, authorities said.
A Georgia woman convicted of killing her 20-month-old son and dumping his body in a trash bin was sentenced Thursday to life in prison.
Authorities have seen a surge of guns and ammunition flowing from the United States to Latin America and the Caribbean, fueling conflict in regions already struggling with violence and unrest.
The U.S. Department of Justice's Los Angeles office filed charges in what could be the nation's first death-resulting criminal case involving a synthetic opioid that is possibly more dangerous than fentanyl.