Caterpillar profits fall 45%, cuts forecast

Caterpillar reported disappointing earnings this morning. The heavy-equipment maker announced its profits are down 45 percent and also cut its forecast for the rest of the year.

Caterpillar reported disappointing earnings this morning. The heavy-equipment maker announced its profits are down 45 percent and also cut its forecast for the rest of the year.

Julia Coronado, chief economist at BNP Paribas, joins Marketplace's Stacey Vanek Smith to discuss what's got Caterpillar down, both here and abroad.

About the author

Stacey Vanek Smith is a senior reporter for Marketplace, where she covers banking, consumer finance, housing and advertising.

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