With a recession seeming to be only a matter of when not if, economists are taking a dim view of what's ahead.
If the outlook for fourth-quarter economic growth isn't quite like staring into the abyss, it's at least starting to get pretty dark and pretty deep. With a recession seeming to be only a matter of when not if, economists are taking a dim view of what's ahead, even if the last three months could still show some mildly positive growth.
Markets are split between whether the Fed will enact a fourth straight 0.75 percentage point rate hike at its November meeting, with another half- or quarter-point increase expected in December. That would elevate rates to their highest levels since late 2007, a time when the central bank was cutting as the worst of the financial crisis had not hit yet. This time around, the Fed is deliberately trying to slow the economy — and specifically a hot labor market that shows no signs of letting up.
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