Stay updated with breaking news from Fed Recession. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Treasury Secretary Janet Yellen said Thursday that it appears the economy will avoid falling into a recession as the Federal Reserve works to vanquish too-high inflation.
JPMorgan Chase CEO Jamie Dimon poured cold water on the notion of a continuing economic boom, calling belief in the scenario a “huge mistake.”
Federal Reserve Chairman Jerome Powell on Friday warned more interest rate hikes are possible but added the central bank will “proceed carefully” when deciding its next steps.
Economists predict the US will avoid a recession but won't be certain until at least 2024. The Federal Reserve aims to navigate a path where the economy expands while inflation rates fall back to the 2% target, which is challenging.
The Federal Reserve hiked interest rates Wednesday in what is expected to be the end of its campaign, launched hurriedly last year, to counter historic inflation by increasing borrowing costs.