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Powell's stark message: Inflation fight may cause recession

 

September 21, 2022



WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.

Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the Fed's goal of engineering a "soft landing" — in which it would manage to slow growth enough to curb inflation but not so much as to cause a recession — looks increasingly unlikely.

"The chances of a soft landing," Powell said, "are likely to diminish" as the F...



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