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☆ Danger, 'pothole' ahead: Economic growth slowing to a near-halt to end the year
▼ + stars: | 2023-09-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Be it the United Auto Workers strike , the impending government shutdown or the resumption of deferred student loan payments , ominous barriers to growth have been lining up. "The economic headwinds are blowing, and they're blowing harder and harder," said Mark Zandi, chief economist at Moody's Analytics. JPMorgan Chase CEO Jamie Dimon recently cautioned clients that the Fed may have to take rates a good deal higher yet. Still, that's well rate above the central bank's 2% target, posing another potential headwind to growth. Despite the looming slowdown, consumers, who are pivotal to U.S. growth, have managed to hang in there.

Persons: Mark Zandi, Goldman Sachs, Goldman, Ronnie Walker, Alec Phillips, tumbles, Sam Stovall, JPMorgan Chase, Jamie Dimon, We're, Liz Ann Sonders, Charles Schwab, Jerome, Powell, They've Organizations: United Auto Workers, Moody's, UAW, Atlanta, JPMorgan, University of Michigan's, Commerce Department Locations: U.S

☆ Here's what analysts see in store for stocks as the US government barrels towards a shutdown
▼ + stars: | 2023-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The US government is more likely than not to shutdown by the end of the month, Goldman Sachs warned. But stocks could rebound quickly from any ensuing volatility, stock market experts say. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And in some cases, stocks actually ended the shutdown period higher, with the market gaining a net 10% following the 2018-19 shutdown, according to Renaissance Macro. "I think the government shutdown itself isn't a major issue from a stock market perspective," Truist co-chief investment officer Keith Lerner said to CNBC on Monday.

Persons: Goldman Sachs, —, it's, aren't, Charles Schwab, Alec Phillips, shutdowns, Dow Jones, Wells, Truist, Keith Lerner Organizations: Service, Goldman Sachs Research, CNBC

☆ A full government shutdown would trigger a data blackout, says Goldman Sachs' Alec Phillips
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA full government shutdown would trigger a data blackout, says Goldman Sachs' Alec PhillipsAlec Phillips, Goldman Sachs Global Investment Research chief U.S. political economist, joins 'The Exchange' to discuss economic risks associated with a government shutdown, the likelihood of a bipartisan deal to reopen the government after a shutdown, and more.

Persons: Goldman Sachs, Alec Phillips Alec Phillips, Goldman Organizations: Goldman Sachs Global Investment Research

☆ Watch CNBC's full interview with Goldman Sachs' Alec Phillips
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Goldman Sachs' Alec PhillipsAlec Phillips, Goldman Sachs Global Investment Research chief U.S. political economist, joins 'The Exchange' to discuss the likelihood of a government shutdown, the Treasury's attempt to raise funds through bond issuances and partisan disagreements about government spending.

Persons: Goldman Sachs, Alec Phillips Alec Phillips, Goldman Organizations: Goldman Sachs Global Investment Research

☆ A government shutdown is more likely than not, says Goldman Sachs' Alec Phillips
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA government shutdown is more likely than not, says Goldman Sachs' Alec PhillipsAlec Phillips, Goldman Sachs Global Investment Research chief U.S. political economist, joins 'The Exchange' to discuss the likelihood of a government shutdown, the Treasury's attempt to raise funds through bond issuances, and partisan disagreements about government spending.

Persons: Goldman Sachs, Alec Phillips Alec Phillips, Goldman Organizations: Goldman Sachs Global Investment Research

☆ U.S. debt downgrade sinks global markets — but economists are not concerned
▼ + stars: | 2023-08-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Global stock markets tumbled on Wednesday after ratings agency Fitch downgraded the United States' long-term credit rating — but top economists say there is nothing to worry about. U.S. stock futures were sharply lower after the downgrade, pointing to a fall of almost 300 points for the Dow Jones Industrial Average at the Wednesday open on Wall Street. Current Treasury Secretary Janet Yellen described the downgrade as "outdated." Phillips said the downgrade "should have little direct impact on financial markets as it is unlikely there are major holders of Treasury securities who would be forced to sell based on the ratings change." Harvey noted that, ahead of the 2011 S&P downgrade, stocks were in correction territory, credit spreads were widening, rates were falling, and the global financial crisis "was still in the market's collective conscience" — whereas the conditions today are "almost the opposite."

Persons: Fitch, Larry Summers, Mohamed El, Erian, Summers, Janet Yellen, Goldman Sachs, Alec Phillips, Phillips, Wells, Chris Harvey, Harvey, Mark Mobius, they've, CNBC's Organizations: United, AAA, Dow Jones, U.S ., Allianz Chief, Treasury, Wells Fargo Securities Head, Equity, CNBC, ., Mobius Capital Partners Locations: United States, London, Asia, Pacific, Wells Fargo, U.S

☆ Goldman Sachs says the US has an extra 8 days before it runs out of money to pay its bills. That could buy it more time to negotiate the debt ceiling.
▼ + stars: | 2023-05-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The US could default on its debt on June 8 or June 9, Goldman Sach's chief political economist told Bloomberg. The X-date is when the US can no longer pay its bills if the debt ceiling isn't raised. Treasury Secretary Janet Yellen has previously said the "X-date," or the date when the US can no longer pay its bills and risks a default, is June 1. But the actual deadline could be a week later than June 1, Alec Phillips, Goldman Sachs' chief political economist, told Bloomberg TV on Friday. While that may buy the US more time to negotiate a deal over raising the debt ceiling, it's still better to do it sooner or later, Phillips added.

☆ Market moves may ramp up as debt ceiling deadline approaches, says Goldman's Alec Phillips
▼ + stars: | 2023-05-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket moves may ramp up as debt ceiling deadline approaches, says Goldman's Alec PhillipsAlec Phillips, chief U.S. political economist at Goldman Sachs Research, and CNBC's Kayla Tausche join 'The Exchange' to discuss ongoing debt ceiling negotiations, President Biden's plans to meet with Congress, and the odds of a temporary debt ceiling extension.

WASHINGTON, May 2 (Reuters) - For months, the U.S. crisis over the debt limit has been a political abstraction. That's the length of time in which the House, Senate and the president are all physically in Washington, D.C. in May. There, Biden plans to "stress that Congress must take action to avoid default without conditions," a White House official said. After that ends on May 21, he will attend the May 24 meeting of the Quad Leaders’ Summit in Sydney, Australia, the White House said. Late on Monday, Schumer worked to fast-track a "clean" two-year debt limit suspension, so that it can come more quickly to the Senate floor for a vote.

☆ Watch CNBC's full interview with Goldman Sachs’ Alec Phillips
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Goldman Sachs’ Alec PhillipsAlec Phillips, chief political economist at Goldman Sachs, joins 'The Exchange' to discuss whether SVB depositors are fully protected in its acquisition by First Citizens bank and more.

☆ Odds of uninsured depositors losing funds are pretty low, says Goldman Sachs’ Alec Phillips
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOdds of uninsured depositors losing funds are pretty low, says Goldman Sachs’ Alec PhillipsAlec Phillips, chief political economist at Goldman Sachs, joins 'The Exchange' to discuss whether SVB depositors are fully protected in its acquisition by First Citizens bank and more.

☆ Goldman sees debt limit fight possibly hitting stocks this summer
▼ + stars: | 2023-01-30 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The U.S. government hit its debt limit earlier this month, starting a countdown to when the Treasury Department will run out of resources . Goldman chief economist Jan Hatzius said in his "Weekly Kickstart" note that the looming debt ceiling fight this summer could have a significant impact on stocks. "Our economists expect the deadline to raise the debt limit will arrive between June and October. Market reactions to past debt limit episodes have been mixed. Hatzius' Goldman colleague Alec Phillips said in a follow-up note that, "we continue to believe the risk that Congress fails to raise the debt limit by the deadline is higher than at any point since 2011."

☆ We could soon be facing the biggest financial crisis in history as Republicans threaten to stop paying America's bills
▼ + stars: | 2023-01-19 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +11 min

Republicans are using the debt ceiling as leverage to achieve spending cuts on Democratic priorities. But failing to raise the debt ceiling by the summer could cause the US to default on its debt. Consequences of default are dire, and Biden has urged the GOP to not bargain with the debt limit. "Failure to raise the debt limit will not reduce our debt, but it would wreck the economy if it led to a default. "When you talk about the trillion dollar platinum coin, it sounds very silly — and it is really silly!"

Moderating inflation and a strong labor market may mean that no recession will come in 2023. At the same time, the US labor market has looked at the possibility of a recession and essentially shrugged. Although the US saw higher gains in the first few months of 2022, the job growth in December still shows the labor market is hot. "Today's inflation numbers are good news, good news about our economy," President Joe Biden said during Thursday remarks. Regardless, the labor market will continue to cool, and the unemployment rate will still rise — which will be uncomfortable, Zandi said, but not a recession.

☆ Here's how the U.S. economy could escape a recession in 2023
▼ + stars: | 2022-12-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +12 min

The U.S. economy heads into 2023 facing what might be the most anticipated recession in history. That basically means some parts of the economy will feel like they're in a recession while others won't. "Some areas of the economy may not feel like they actually are in recession. "For certain parts of the economy, it will feel like a very deep recession. For other parts, it will feel like a healthy growth economy, particularly in the parts of the economy where we see strong demand," she said.

☆ Meta employees proposed marketing its $399 virtual-reality headsets to people who will get student debt relief, a report says
▼ + stars: | 2022-10-10 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Meta workers considered advertising VR headsets to federal student debt relief recipients. Three employees said the ad proposal could boost sales by 20%, The New York Times reported. The Times reported that it did not look like Meta had implemented the idea. What's more, even some Meta employees appear disillusioned with Zuckerberg's plans. Meanwhile, Insider's Kali Hays previously reported Meta was conducting "quiet layoffs" that could impact as much as 15% of the company's workforce.

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