There’s a lot of talk about a recession out there considering the economy just notched its second consecutive quarter of contraction. The nation’s largest retailer Walmart is already sounding the alarm that its profit outlook for this year isn’t looking great. But some companies actually thrive during a downturn, so here are some recession-proof sectors…

The U.S. economy shrank for the second straight quarter, stoking recession fears. Government data showed Thursday that the country’s gross domestic product contracted by 0.9% in the second quarter, following a 1.6% contraction the first quarter of the year. Traditionally, people think of a recession as two consecutive quarters of negative growth, which is what…

It only took two weeks for Sen. Joe Manchin (D-WV) to change his mind on how he will vote for the Inflation Reduction Act. Manchin said in a press release he is now voting for an energy and healthcare package after further discussions with Senate Majority Leader Chuck Schumer (D-NY). Details of the full spending…

The Federal Reserve Wednesday announced its fourth interest rate hike in as many months as the central bank tries to rein in 4-decade high inflation. Following its July meeting, the committee voted to raise the benchmark rate by another 0.75%, identical to the supersized hike in June, which hadn’t been done before that since 1994.…

Russia airstrikes target Ukraine ports – Ukraine’s black sea region ports continued to be bombarded by Russian air strikes Tuesday. The air strikes may further jeopardize Ukraine’s ability to ship out goods amid fears of a global food crisis. “In Odessa, there is a hit in private buildings of coastal villages with the following arson.…

Treasury Secretary Janet Yellen and members of the Biden administration are out in force, making the case that the economy is strong and not headed toward a recession. The Commerce Department will release initial GDP calculations Thursday, and some economists predict it will reveal a contraction for the second quarter in a row. “This is…

Two major social media platforms appeared to be struggling from a revenue standpoint, as Snapchat reported its weakest sales growth ever and Twitter reported a loss of $270 million in quarterly reports. The losses can be partially explained by uncertainty about the U.S. economy, with social media platforms taking a big hit in ad revenue.…

The electric vehicle (EV) industry continued to grow this week, with new competition from Ford and Chevy entering the market and existing powerhouse Tesla growing its revenue. Chevy has unveiled a new electric SUV arriving in 2024. It will be able to go 320 miles on a full charge. “What’s significant is that Chevrolet is…

Mass shootings have a measurable negative impact on the local economy, according to recent testimony before the House Financial Services Committee. After a city sees a mass shooting, it can experience up to a 2% increase in unemployment and 3% decrease in property values. School shootings cause up to an 8% decline in property values…

Government data shows the U.S. economy shrank the first six months of 2022. With slowing growth, a bear market and ever-tightening Federal Reserve monetary policies, recession warning signs are flashing in many areas of the economy. Current conditions have experts debating whether the U.S. is heading toward a recession or is already in one. At…