The US economy has at least a one-in-three chance of sinking into a recession over the next 12 months, Moody's Analytics chief economist Mark Zandi told CNN
The US economy has at least a one-in-three chance of sinking into a recession over the next 12 months, Moody's Analytics chief economist Mark Zandi told CNN."Recession risks are uncomfortably high -- and moving higher," Zandi said. Before Russia invaded Ukraine, economists hoped energy prices and overall inflation would cool off this spring and summer. Now, the inflation outlook has darkened, with prices for gasoline, food, metals and other raw materials rising sharply.
The Fed hasn't done this since 1994Morgan Stanley, joining a number of other Wall Street banks, said on Thursday it expects the Fed to raise interest rates by half a percentage point during each of the next two months. The Fed hasn't done that in back-to-back meetings since 1994. "The harder the Fed steps on the brakes, the higher the probability the car seizes up and the economy goes into recession," Zandi said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Take the Next Step': Progressives Mark ACA Anniversary With Calls for Medicare for All'Healthcare is a human right,' says WorkingFamilies. 'And it is unimaginable that, in the wealthiest country in the world, we still don’t treat it like one.' MedicareForAll
Read more »
Mark Meadows' wife appears to use invalid address on 2 North Carolina voter registration formsThe wife of former Trump chief of staff Mark Meadows filled out two voter forms that note it's a felony to 'fraudulently or falsely' complete it
Read more »
Budget: Education sector says $1.99B in school operating funds falls well below the mark\u0022Once again, we see a budget for K to 12 education that falls short of anything we would consider an investment in education.\u0022
Read more »
Ex-NFL RB Mark Walton Arrested Again, Accused Of Armed RobberyEx-NFL running back Mark Walton has been arrested again ... after cops say he helped rob a person at gunpoint in February.
Read more »
Mercedes rolls out a special G63 to mark 55 years of AMGMercedes-Benz AMG has celebrated its 55th anniversary with special versions of the G63 and GT sports car.
Read more »