Addressing the annual gathering of central bankers in Jackson Hole, Wyoming, Powell did not hold back or leave room for doubt about the Fed's plans, pledging to act "forcefully." He warned that the world's largest economy is likely to slow for a sustained period, and the strong US job market...
US Fed chair admits recession a ‘possibility’ after rate hikes
The US economy remains strong but a series of aggressive rate hikes meant to cool soaring inflation could eventually trigger a recession, Federal Reserve Chair Jerome Powell cautioned Wednesday. Powell, whose testimony before senators was closely watched by investors and analysts, also said the world's largest economy faces an "uncertain"...
