Fed chief says recession ‘a possibility’ as bank hikes rates

Fed chief says recession ‘a possibility’ as bank hikes rates

(The Hill) — Federal Reserve Chair Jerome Powell acknowledged Wednesday that the central bank’s battle against high inflation could tip a so-far resilient U.S. economy into a recession.
Testifying before the Senate Banking Committee, the Fed chief ceded that the bank’s ongoing series of interest rate hikes could slow the economy enough to halt job gains and economic growth — the two signs of an…

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