The Fed knows its actions could trigger a recession

Posted on AllSides June 23rd, 2022
From The Center
ANALYSIS

As the US Federal Reserve fights to curb inflation with higher interest rates, it’s aware that making borrowing more expensive right now could tip the US into a recession.

“It’s certainly a possibility,” said Fed chair Jerome Powell in his testimony today before the Senate Banking Committee. “It’s not our intended outcome at all. … Frankly, the events of the last few months around the world have made it more difficult for us to achieve what we want, which is 2% inflation and still a strong labor market.”

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