Investment banks sound recession alarm — US citizens start to fret about economic slowdown as well
"[Rising rates] raises the risk of a recession, because you're bringing rate hikes forward even faster,"."The Fed is hiking into a slowdown, and they don't really have a lot of options."
, which measures Main Street's attitude towards the overall business climate, fell sharply to a record low of 50.2 points this month, far below analysts' initial prediction of 58. Consumer sentiment has typically been used as a gauge of future consumer spending, which accounts for roughly three quarters of gross domestic product.Americans are spending much less at stores and restaurants as inflation soars
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