More signs of recession. After a turbulent week, U.S. and European equity markets are set for their worst week and year, respectively, since the 2008 recession. U.S. markets are on track for their biggest December decline since the Great Depression. The causes are many – poor manufacturing sales figures in Germany, lower-than-expected third-quarter growth and increased rates in the U.S. are just a few of the culprits. Over the weekend, U.S. Treasury Secretary Steven Mnuchin called the heads of several banks, then issued a statement saying there is definitely, 100 percent, nothing wrong. President Donald Trump subsequently resumed his criticism of the Federal Reserve. Unconfirmed reports from Bloomberg suggest he is considering firing its chairman, Jerome Powell. Ultimately the story here is that the world is entering the end of an expansionary period. Markets are beginning to respond, and politicians are beginning to manage the social, financial and political fallout of economic cont
Daily Memo: Signs of Recession, Updates on Syria
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