More and more economists are beginning to forecast a U.S. recession in the next two years as the Federal Reserve moves to rein in the hottest inflation in a decade – including one who is frequently cited by the Biden administration.
More economists are beginning to forecast a U.S. recession in the next two years as themoves to rein in the hottest inflation in a decade – including one who is frequently cited by the Biden administration.
President Biden speaks at the Alumni-Foundation Event Center of North Carolina Agricultural and Technical State University in Greensboro, North Carolina, on April 14, 2022.that suggested the policy tightening trajectory the U.S. central bank is about to embark on raises the odds of a recession to 15% in the next 12 months and 35% within the next 24 months.
Traders are now pricing in a 100% chance of at least a half-point rate jump when policymakers meet on May 3-4. It would mark the first time since 2000 that the U.S. central bank raised the federal funds rate by 50 basis points. Some economists believe the Fed waited too long to confront the burst in inflation, while others have expressed concerns that moving too quickly to stabilize prices risks triggering an economic recession. Hiking interest rates tends to create higher rates on consumer and business loans, which slows the economy by forcing employers to cut back on spending.
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