The Fed knows its actions could trigger a recession ...Middle East

Quartz - Economy

As the US Federal Reserve fights to curb inflation with higher interest rates, it’s aware that making borrowing more expensive right now could tip the US into a recession.“It’s certainly a possibility,” said Fed chair Jerome Powell in his testimony today before the Senate Banking Committee. “It’s not our intended outcome at all. … Frankly, the events of the last few months around the world have made it more difficult for us to achieve what we want, which is 2% inflation and still a strong labor market.”Higher interest rates lower the prices of assets broadly by making it more difficult for consumers to borrow to pay for durable goods like cars and houses. Already the Fed is seeing signs that

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Last updated : 22 June 2022 clock 10:16 PM

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The Fed knows its actions could trigger a recession ...Middle East

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