More from Brent Jabbour
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Fed cutting rates before September like ‘yelling fire in a crowded theater’
Many argue the Federal Reserve missed the boat after failing to cut rates to ease financial conditions two days before latest jobs report triggered a recession indicator on Friday, Aug. 2. The Federal Open Market Committee is not scheduled to meet again until Sept. 17-18. Now, experts are making the case for deeper rate cuts… -
Here’s why this former Fed adviser says we are already in a recession
The creator of a recession indicator that was triggered this past week said her rule is broken this time around and there’s no recession right now. But not everyone agrees. In fact, a different recession indicator points to the U.S. having entered a recession in October of last year. “We’re not in a recession,” Sahm… -
Google’s antitrust loss ‘a warning’ to Big Tech: The government can win
Pressure is building on Big Tech after a federal court ruled Google is a monopoly. Google isn’t the only one the government is going after. Apple, Meta and Amazon are actively fighting lawsuits. While Google’s appeal plays out, tech firms will be eyeing the courts, Federal Trade Commission and Department of Justice for clues to… -
FTC Chair Lina Khan got under Big Tech’s skin. Now they want her gone.
In the wake of a federal judge ruling that Google is a monopoly for its search business practices, all eyes are turning to other antitrust cases in the works. But even before the Google decision brought by the Justice Department, the Federal Trade Commission and its celebrity chair were feeling the political heat. FTC Chair… -
Break up Google? How the search giant might be punished for antitrust ruling
The antitrust ruling against Google on Monday, Aug. 5, is groundbreaking. By declaring Google is a monopoly, it marked the biggest tech antitrust ruling since Microsoft in the ’90s. It’s not that the government never takes up these cases; it’s that the government doesn’t often win. And to be fair, it hasn’t won yet. Google plans… -
Why the Sahm Rule creator says the recession rule is wrong this time
Recession fears have dominated headlines since Friday’s jobs report, where the rising unemployment rate triggered a recession indicator known as the Sahm Rule. The rule has an incredible track record of signaling the start of a recession, yet this time is an outlier, according to the rule’s creator. The Sahm Rule states a recession in the… -
Korea semiconductor company SK Hynix gets $450 million in CHIPS Act grant
The U.S. will officially host five of the world’s largest semiconductor manufacturers after dolling out tens of billions of dollars in grant money. The Biden administration announced Tuesday, Aug. 6, it’s awarding hundreds of millions in grants to South Korea’s SK Hynix for its new facility in West Lafayette, Indiana. The company announced in April it… -
A federal judge ruled Google is a monopoly. What happens now?
Google is a monopoly that illegally maintained its stranglehold on the search world, a federal judge ruled Monday, Aug. 5. It’s a major antitrust victory for the Justice Department against Big Tech, and could impact other antitrust lawsuits against Google, Apple, Amazon and Meta. Google said it plans to appeal the decision. This Google case is years… -
CrowdStrike strikes back over Delta Air Lines’ $500 million claim
Cybersecurity firm CrowdStrike on Sunday, Aug. 4, shot down Delta Air Lines’ claim that it should be financially responsible for a global outage that stranded half a million of its passengers in mid-July. The response comes after Delta hired high-powered attorney David Boies’ law firm looking for compensation from both Microsoft and CrowdStrike. In a… -
Overreaction or rational? Here’s why the US stock market plunged Monday.
Investors slammed the sell button the morning of Monday, Aug. 5, with the Dow Jones Industrial Average sliding more than 1,000 points before the opening bell. The tech-heavy Nasdaq lost 6% while the S&P 500 was down more than 4% before the stock market opened. The global sell-off started overseas in Japan with the Nikkei… -
What is the Sahm rule? The US officially triggered this recession indicator.
It only took moments for Friday’s disappointing U.S. jobs report to stoke fears that a recession could be in the offing. In the wake of the report, Treasury yields took a dive while the Dow, S&P 500 and Nasdaq all faced a selloff, pushing them down more than 2% early in the afternoon. Employers added… -
After July’s big jobs miss, experts say a 50bps cut should be on the table
Experts are criticizing the Federal Reserve for being behind the ball after July’s jobs report showed a weakening labor market, two days after the Fed decided to leave its interest rate unchanged. Economists say the Fed’s restrictive monetary policy is now hurting the once-robust labor market. In July, the U.S. economy added 114,000 jobs, a… -
Weak jobs report and uptick in unemployment ‘a warning sign’
Hiring fell considerably and unemployment rose in July. The unemployment rate was up for the fourth straight month as eyes turn to whether or not U.S. economic policymakers will act in the coming months. Employers added only 114,000 jobs in July, according to data released Friday, Aug. 2, by the Bureau of Labor Statistics. That…