The country’s economy is expected to contract in the next 12 months, forcing employers to cut jobs, a survey of economists showed The US will likely enter a recession in the coming year, The Wall Street Journal reported on Monday, citing its latest survey of economists. According to the report, the probability of a recession in the US within the next 12 months is 63%, up from 49% projected in the previous WSJ survey in July. The economists polled said that risks had increased due to the Federal Reserve’s efforts to bring down inflation by hiking the key interest rate. The Fed has raised the federal funds rate by 7
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