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.7 days ago·Washington, United States
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