Fed warns of possible recession

Summary by Ground News

US Federal Reserve Chair Jerome Powell gave his most explicit acknowledgment to date that steep interest-rate hikes could tip the US economy into recession. Powell said that officials anticipate that ongoing rate increases will be appropriate to cool the hottest price pressures in 40 years. The US Federal Open Market Committee last week raised its benchmark lending rate 75 basis points, the biggest increase since 1994.

6 days ago

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The Independent

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Taipei Times

Fed warns of possible recession

US Federal Reserve Chair Jerome Powell on Wednesday gave his most explicit acknowledgment to date that steep interest-rate hikes could tip the US economy into recession, saying one is possible and calling a soft landing “very challenging.” “The other risk, though, is that we would not manage to restore price stability and that we would allow this high inflation to get entrenched in the economy,” Powell told lawmakers. “We can’t fail on that task…

6 days ago·Taipei, Taiwan

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