Fed warns of possible recession

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…

Germany warns of possible gas rations as Russia reduces supplies

‘The reduction in gas supplies is an economic attack on us by Putin,’ says Germany’s Robert Habeck