The latest financial reports released this week revealed that inflation-fighting efforts have not slowed inflation as much as it should have.
File - The likeness of Benjamin Franklin is seen on U.S. $100 bills, Thursday, July 14, 2022, in Marple Township, Pa. If the debt crisis now roiling Washington were eventually to send the United States crashing into recession, the repercussions of a first-ever default on the federal debt would reverberate around the world and quickly. – Now the big fear is that multiple interest rate hikes designed to fight inflation could potentially lead to a recession.
“The Federal Reserve has raised interest rates a full five percentage point in 12 months and there’s been no time in history when they’ve raised interest rates more than 3 percentage points where a recession hasn’t occurred six to 12 months later. So, people are just looking for history to repeat itself but so far, we’re not exactly seeing signs of that,” said Joe Krier, Financial Analyst for Tidal Flow Trading.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fire in Milan retirement home kills 6 people, injures around 80An overnight fire in a retirement home in Milan has killed six people and injured around 80, including three who are in a critical condition, Italian authorities say.
Read more »
Carol B. Rice, retired deputy commissioner for Philadelphia Parks and Recreation, has died at 80'She leaves behind a beautiful and rare legacy represented by her family and friends who will celebrate all that she was in service and sisterhood,' a friend said.
Read more »
WWII sailor remains returned to NJ nearly 80 years after battle crashAfter almost 80 years, a World War II sailor’s remains, which were once declared “non-recoverable” were returned to his New Jersey home.
Read more »
80% of customer power restored as Wildwood outage extends past 24 hoursDespite working round the clock, officials say the fix is complicated.
Read more »
Americans are gaining more weight due to stress, poll findsA therapist explains healthier ways to cope with stress in your life.
Read more »