The risk of the US economy sliding into a recession this year doubled last week after the Federal Reserve implemented its sharpest interest rate hike since 1994, according to Goldman Sachs economis…
The Fed hiked its benchmark interest rate by three-quarters of a percentage point last week — with similar hikes expected in the coming months as the central bank attempts to cool inflation that hit a four-decade high of 8.6% in May.
Goldman’s economists say they are “increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply.”
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