Page 31 - Field Notes News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Despite constant assurances from officials that the economy is going just great, signs of trouble abound. To take a random sampling: it was just estimated that some 160,000 people are about to be evicted from their apartments in New York; defaults on junk bonds—which provide critical financing for many companies—are surging above 2021 and 2022 levels in response to rising interest rates; New York, San Francisco, Chicago, and other business centers are facing a likely collapse of the commercial real estate market, imperiling mortgage-holding regional banks while destroying local economies dependent on downtowns filled with office workers, many of whom are now working from home or recently fired; arcane indicators like the market for RVs, sensitive to downturns as an expensive discretionary purchase, are falling as before earlier recessions; while unemployment is rising significantly in over a dozen states. And that’s just the United States.

New yorkUnited statesSan franciscoAndy haldanePaul krugmanLawrence summersRuchir sharmaCredit suisseSilicon valley bankFederal reserveNew york timesCentral bank forecastsSwiss national bankCongress broaden bank insurance for businessNobelist paul krugmanFinancial times