fbpx
  • About Us
  • Contact
  • Sponsored Content
  • Price Tracker
  • Write for Us
  • Terms and Conditions
Coin Culture
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Metaverse
    • Forecast
  • Exchanges
    • All
    • Crypto Exchange Reviews
    • Exchange Comparisons
    CoinSpot vs Kraken: Which Is Better? A Detailed Comparison

    CoinSpot vs Kraken: Which Is Better? A Detailed Comparison

    Centralised Exchange vs. Decentralised Exchange: A Detailed Comparison

    Centralised Exchange Vs. Decentralised Exchange: A Detailed Comparison

    Low Fee Exchanges: The High Cost of Low Price

    Low Fee Exchanges: The High Cost of Low Price

    Best Crypto Apps in Australia: A Curated List 2022

    Best Crypto Apps in Australia: A Curated List 2022

    CoinSpot vs Independent Reserve: Which Is Better? A Detailed Comparison

    CoinSpot Vs Independent Reserve: Which Is Better? A Detailed Comparison

    Which crypto exchange should Australians choose: CoinSpot vs Bitfinex

    Which crypto exchange should Australians choose: CoinSpot vs Bitfinex

    Coinspot vs Plus500: Which Is Better? A Detailed Comparison

    Coinspot vs Plus500: Which Is Better? A Detailed Comparison

    CoinSpot vs Bittrex Crypto Exchange Comparison

    CoinSpot vs Bittrex Crypto Exchange Comparison

    Review crypto exchanges for Australians: CoinSpot vs BTC Markets

    Review crypto exchanges for Australians: CoinSpot vs BTC Markets

    • Reviews
    • Comparisons
No Result
View All Result
SUBSCRIBE
Coin Culture
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Metaverse
    • Forecast
  • Exchanges
    • All
    • Crypto Exchange Reviews
    • Exchange Comparisons
    CoinSpot vs Kraken: Which Is Better? A Detailed Comparison

    CoinSpot vs Kraken: Which Is Better? A Detailed Comparison

    Centralised Exchange vs. Decentralised Exchange: A Detailed Comparison

    Centralised Exchange Vs. Decentralised Exchange: A Detailed Comparison

    Low Fee Exchanges: The High Cost of Low Price

    Low Fee Exchanges: The High Cost of Low Price

    Best Crypto Apps in Australia: A Curated List 2022

    Best Crypto Apps in Australia: A Curated List 2022

    CoinSpot vs Independent Reserve: Which Is Better? A Detailed Comparison

    CoinSpot Vs Independent Reserve: Which Is Better? A Detailed Comparison

    Which crypto exchange should Australians choose: CoinSpot vs Bitfinex

    Which crypto exchange should Australians choose: CoinSpot vs Bitfinex

    Coinspot vs Plus500: Which Is Better? A Detailed Comparison

    Coinspot vs Plus500: Which Is Better? A Detailed Comparison

    CoinSpot vs Bittrex Crypto Exchange Comparison

    CoinSpot vs Bittrex Crypto Exchange Comparison

    Review crypto exchanges for Australians: CoinSpot vs BTC Markets

    Review crypto exchanges for Australians: CoinSpot vs BTC Markets

    • Reviews
    • Comparisons
No Result
View All Result
Coin Culture
No Result
View All Result
Home Markets

U.S. Economy Shrank 0.9% Last Quarter, Signalling Recession

Tuni Lala by Tuni Lala
August 1, 2022
in Markets
U.S. Economy Shrank 0.9% Last Quarter, Signalling Recession
Share on FacebookShare on Twitter

You might also like

54% Of Crypto Investors Held Their Assets During The Market Crash

Buying Bitcoin with PayPal [Beginner’s Guide 2022]

Why is Bitcoin (BTC) Declining in Value?

The United States has recorded two consecutive quarters of declining Gross Domestic Product growth.

The U.S. GDP declined by 0.9%

The United States economy is in a so-called “technical recession.”

According to the U.S. Bureau of Economic Analysis, the country’s annual economic growth for the second quarter was -0.9%, falling short of experts’ estimates of a 0.5% gain. The outcome followed a GDP decrease of 1,6% in the first quarter of the year, which was surprisingly big.

GDP fell for the second straight quarter. Image: Bureau of Economic Analysis

The GDP decline in private inventory investment, residential fixed investment, federal government spending, government spending, and nonresidential fixed investment were partially offset by increases in exports and personal consumption expenditures (PCE).

Technically, the U.S. economy is currently in recession, typically defined as two consecutive quarters of economic decline outside the U.S. The National Bureau of Economic Research will analyse the statistics and the economy’s status throughout the next week. Janet Yellen, the U.S. Secretary of the Treasury, will also conduct a conference today.

On Wednesday, the Federal Reserve increased interest rates by another 75 basis points, prompting the release of the dismal GDP figures. After the most recent rise, U.S. interest rates are currently between 2.25 and 2.5%, with the Fed purportedly aiming to raise them to around 3.4% by the end of the year and 3.8% in 2023. The Fed’s principal duty is to reduce inflation to its desired 2% objective, which is much below the current 9.1% inflation rate. However, the central bank’s efforts to reduce inflation from its four-decade peak may negatively impact consumer spending, employment, and economic growth.

The newest U.S. GDP statistics may be seen as optimistic or pessimistic by market players, depending on whether they feel the data has already been priced. Negative growth is hardly a favourable economic environment for risky assets, but it may prompt the Federal Reserve to ease monetary policy sooner than expected. Since markets are often forward-looking, they may begin pricing this catastrophe month in advance despite the current catastrophic economic circumstances.

Tags: Altcoin News
Tuni Lala

Tuni Lala

Recommended For You

54% Of Crypto Investors Held Their Assets During The Market Crash

by Tuni Lala
August 11, 2022
0
54% of Crypto Investors Held Their Assets During The Market Crash

The 2022 crypto market crash is likely to have swayed investors’ investment strategy, with some deciding to dump their assets. However, many others who anticipate a future market resurgence are...

Read more

Buying Bitcoin with PayPal [Beginner’s Guide 2022]

by Tuni Lala
August 4, 2022
0
Buying Bitcoin with PayPal [Beginner’s Guide 2022]

Bitcoin stays in the headlines when prices continue to fall and rise weekly. It is not a risk-free investment. There is no assurance of a profit or even...

Read more

Why is Bitcoin (BTC) Declining in Value?

by Tuni Lala
August 2, 2022
0
Why is Bitcoin (BTC) Declining in Value?

The price of Bitcoin (BTC) has plummeted significantly over the last several months due to market volatility. The Volatility of the Crypto Market Cryptocurrencies are very volatile, meaning their prices...

Read more

Bitcoin Hits 1-Week Low Amid Another Fed Rate Rise

by Tuni Lala
July 28, 2022
0
Bitcoin Hits 1-Week Low Amid Another Fed Rate Rise

According to CoinMarketCap, the flagship crypto is trading below $21,000, at $20,955, down 4.26% on the day and 7.17% over the previous week. Consequently, the total market value of...

Read more

Ether Continues To Outperform At Above $1,600 Over The Weekend

by Tuni Lala
July 25, 2022
0
Ether Continues To Outperform At Above $1,600 Over the Weekend

According to TradingView statistics, the price of Ethereum’s native token continued to rise over the weekend, trading above $1,600 for most of Sunday. Ether Continues To Outperform On...

Read more
Next Post
With Optimism, Velodrome Surpasses $100 Million In TVL

With Optimism, Velodrome Surpasses $100 Million In TVL

Most popular

  • Will LUNA Recover? Is $1 Still Possible?

    Will LUNA Recover? Is $1 Still Possible?

    224 shares
    Share 90 Tweet 56
  • Top Crypto Twitter Influencers in 2022

    745 shares
    Share 298 Tweet 186
  • The Secret Disclosed: JPMorgan owns critical Ethereum infrastructure

    280 shares
    Share 112 Tweet 70
  • Charles Hoskinson Predicts No Further Delays In Cardano’s Vasil Hard Fork

    78 shares
    Share 31 Tweet 20
  • Top 10 Most Followed Cryptocurrency Hashtags on Twitter

    201 shares
    Share 80 Tweet 50

Recommended

“My First Bitcoin” in El Salvador: How To Educate A Nation About Crypto

“My First Bitcoin” in El Salvador: How To Educate A Nation About Crypto

August 12, 2022
Mark Cuban: Purchasing Metaverse Real Estate Is ‘The Dumbest Sh*t Ever’

Mark Cuban: Purchasing Metaverse Real Estate Is ‘The Dumbest Sh*t Ever’

August 12, 2022
Bitcoin and Ethereum Fluctuate In Response to US Inflation’s Cool To 8.5%

Bitcoin and Ethereum Fluctuate In Response to US Inflation’s Cool To 8.5%

August 12, 2022
Iran Places First Import Order Paid In Crypto, Worth $10M

Iran Places First Import Order Paid In Crypto, Worth $10M

August 11, 2022
Facebook Twitter Instagram
coin culture logo

Hot Topics

  • DeFi
  • NFT
  • Gaming

BROWSE BY TAG

Adoption Altcoin News Australia Banks Bitcoin Bitcoin News Blockchain News btc Business Cardano Cardano News CBDC China CoinSpot Cryptocurrencies Crypto Exchange DeFi Dogecoin News El Salvador ETF Ethereum News Exchange Exchanges Feature Games Markets Metaverse Mining NFT NFT Game Opinion People Policy and Regulation Russia SEC Security Shiba Inu News Solana Stablecoins Tax Tech Terra Trading Trading Guide U.S.

© 2022 CoinCulture. All rights reserved.

No Result
View All Result
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Metaverse
    • Forecast
  • Exchanges
    • Reviews
    • Comparisons

© 2022 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist