The stock market on Wednesday suffered its biggest drop in two years.
will raise interest rates too high, too fast, choking off economic growth.
"Because inflation is going to be higher, they will have to raise the interest rates higher. If economic activity is hurt because the Fed is overreacting, the economy is going to decelerate, and we [could] have low growth and high inflation," he said.or from COVID-19 shutdowns in China could also reverberate in the U.S., raising the odds of a downturn.
"The economic outlook globally is challenging and uncertain," she said."Higher food and energy prices are having stagflationary effects, namely, depressing output and spending and raising inflation all around the world." Still, Coutino sees only a small chance of stagflation, a view shared by most economists. But slowing growth remains a cause for concern.
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