Federal Reserve chair Janet Yellen may have missed her window of opportunity to raise interest rates. The economic data no longer paint a picture of a tepid recovery. Since the start of the year, key indicators for the economy began pointing toward...
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Federal Reserve chair Janet Yellen may have missed her window of opportunity to raise interest rates. The economic data no longer paint a picture of a tepid recovery. Since the start of the year, key indicators for the economy began pointing toward recession. Consider these ominous signs of an economy headed for trouble: • The revised GDP figure for the first quarter showed the economy contracting by nearly 1%. The International Monetary Fund revised its outlook for U.S. economic growth downward. • The Bloomberg Consumer Comfort Index fell for 8 straight weeks through May 31 – the lon- gest losing streak for this measure of consumer confidence since the survey’s inception in 1985. • For the first time since 2006, U.S. productivity fell for two consecutive quarters, as manufacturers struggle with rising labor costs and softening consumer demand. • Factory orders year over year declined for the sixth consecutive month – something that has previously only occurred during or leading up to
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