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The Fed's own economists are sounding the recession alarm — and warning that more interest-rate hikes could tank the US economy

Business Insider LogoBusiness Insider2 mo ago

The Fed's own economists are sounding the recession alarm — and warning that more interest-rate hikes could tank the US economy - Business Insider

Quick Summary:

Federal Reserve's staff economists said pressure on consumer spending, overseas turmoil, and higher borrowing costs have made a recession more likely.

Fed chair Jerome Powell and his colleagues have responded by hiking rates from near zero in March to a range of 3.75% to 4%, and signaling rates could peak above 5% for the first time since 2007.

The Fed's economists said it was a virtual coin toss whether the economy would eke out growth or slump into a recession in 2023.

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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 13:12:33 (2 months ago)

News Timezone: GMT -5:00

Ranking: #467 (out of 2828 stories this day)

News Source URL: markets.businessinsider.com

Language: English

Article Length: 397 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Insider

News ID: 1910810

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About Business Insider

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Main Topics: EconomyBusiness

Official Website: businessinsider.com

Update Frequency: 54 posts per day

Year Established: 2007

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #64

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The story "The Fed's own economists are sounding the recession alarm — and warning that more interest-rate hikes could tank the US economy" has 397 words across 35 sentences, which will take approximately 2 - 4 minutes for the average person to read.

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The story "The Fed's own economists are sounding the recession alarm — and warning that more interest-rate hikes could tank the US economy" was covered 2 months ago by Business Insider, a news publisher based in United States.

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Business Insider is a fully independent (privately-owned) news outlet established in 2007 that covers mostly economy and business news.

The outlet is headquartered in United States and publishes an average of 54 news stories per day.

It's most recent story was published 8 hours ago.

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  • URL: https://beamstart.com/news/the-feds-own-economists-are-16692967969050

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