Fed expected to raise interest rate amid recession fears

Posted on AllSides February 1st, 2023
From The Left
Mandel Ngan/AFP via Getty Images, FILE

The Federal Reserve is set to announce on Wednesday whether it will impose another interest rate hike, the central bank's latest move in a monthslong fight that has eased inflation but risks plunging the U.S. into a recession.

The Fed has put forward a string of borrowing cost increases as it tries to slash price hikes by slowing the economy and choking off demand. The approach, however, risks tipping the U.S. economy into a downturn and putting millions out of work.

At a meeting in December, the Fed raised its short-term borrowing rate a half-percentage point, pulling back from...

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