The Federal Reserve raised interest rates again, but the move has many worrying slowing inflation will lead to recession.
The Federal Reserve is bumping up interest rates again in an effort to curb inflation, as economists and Americans coast to coast worry about a recession. "Most of your first-time home buyers are gone," Eric Harmon, owner of Crosswind Home Inspection, said."The home buyers that are left, they're going to be super qualified, but they can negotiate a little bit more. They don't have to waive all their inspections.
Administration economists argue a second quarter of declining GDP would not indicate a recession right now, while other analysts would still call it a recession. "There are just too many areas of the economy that are performing too well and, of course, I would point to the labor market," Powell said. "It’ll be one of the most unusual ones I’ve seen because the job market is so strong," economist Dennis Hoffman said."While another unusually large increase could be appropriate at our next meeting, that is a decision that will depend on the data we get between now and then," Powell said.
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