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The possibility of a looming recession has lingered over the past year as the housing market ebbs and flows, massive layoffs unfold, and inflation remains persistently high.
Now, economists at the Federal Reserve are warning that the U.S. could be heading into a recession in 2023.
Related: We Might Be Headed Toward a Recession, But a ‘Bigger Catastrophe’ Could
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A recent opinion piece referenced a time in the not-too-distant past when money was “virtually free.” This was before Fed Chairman Powell supposedly brought “real world” to the cost of credit. Readers should be skeptical, and not just about the presumption that Powell controls the world’s most important price (credit) from the proverbial Commanding Heights.
“Virtually free” money didn’t
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Federal Reserve Chair Jerome Powell struck a more hawkish tune than expected during his semiannual report to Congress on Tuesday, saying the central bank will continue to up the temperature on what is already their most aggressive tightening campaign in decades.
Powell takes the stand Tuesday.
Powell’s testimony to the Senate’s banking, housing and
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In a semiannual report to Congress beginning Tuesday at 10 a.m., Federal Reserve Chair Jerome Powell will offer a glimpse into how officials are thinking about the economy as they continue their most aggressive tightening campaign in decades.
Powell testifies before the Senate last June.
Powell’s testimony to the Senate’s