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US Fed chair admits recession a 'possibility' after rate hikes

Summary by Ground News
Jerome Powell addressed the Senate Banking Committee Wednesday. The Fed is under growing pressure to combat inflation, which hit a four-decade high in May. Powell stressed the economy is well-positioned to withstand higher interest rates. But he acknowledged that the war in Ukraine and lingering supply-chain problems increase the risk of an economic slowdown.

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Bias Distribution

  • 45% of the sources lean Left
45% Left
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TVA Nouvelles broke the news in Montreal, Canada on Wednesday, June 22, 2022.
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