“Federal Reserve staff economists briefed policymakers this month that the chances of a US recession in the next year had risen to almost 50% on risks of slower consumer spending, global economic risks and further interest-rate hikes,” Bloomberg reports.
Wall Street Journal: “Most Federal Reserve officials thought they should slow the pace of interest-rate increases after approving a 0.75-percentage-point rate rise at their meeting earlier this month to battle high inflation.”
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