The Latest Breaking News from Gregory Daco

Federal Reserve Chair Jerome Powell softened his tone slightly during a second day of congressional testimony, saying policymakers will wait for fresh jobs and inflation data before deciding how much to raise interest rates later this month.

Gregory Daco, chief economist at EY Parthenon, expects to see a “K-shaped consumer spending pattern” in 2023, where working class families slow their spending, while wealthy families continue to splurge.

There's no one formula for every company.

The stock market has been under pressure this year amid consecutive rate hikes and recession fears. Moreover, as the market could remain volatile in the short term, investors should focus on their long-term strategies and invest in fundamentally strong stocks, Johnson & Johnson (JNJ) and Molina Healthcare (MOH), which look…