U.S._ Fed's Aggressive Rate Hikes Raise Likelihood of a Recession

NEWSMAX

Fed's Aggressive Rate Hikes Raise Likelihood of a Recession

U.S. Federal Reserve Board Chairman Jerome Powell speaks following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on June 15, 2022 in Washington, D.C. Powell announced that the Fed is raising interest rates by three-quarters of a percentage point, the highest rate hike in 28 years. (Photo by Drew Angerer/Getty Images)

Thursday, 16 June 2022 07:11 AM


Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed's efforts so far to tame it.

Increasingly, it seems, doing so might require the one painful thing the Fed has sought to avoid: A recession.

A worse-than-expected inflation report for May — consumer prices rocketed up 8.6% from a year earlier, the biggest jump since 1981 — helped spur the Fed to raise its benchmark interest rate by three-quarters of point Wednesday.

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READ MORE: https://www.newsmax.com/finance/streettalk/federal-reserve-inflation-recession-jerome-powell/2022/06/16/id/1074687/

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conbenho
Tiểu Muội quantu
Nguyễn Hoài Trang
17062022
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