U.S. needs miracle to avoid recession, economist Stephen Roach warns
[ad_1] Negative economic growth in the year’s first half may be a foreshock to a much deeper downturn that could last into 2024. Stephen Roach, who served as chair of…
Fed rate hikes won’t curb inflation if spending stays high, paper says
[ad_1] John C. Williams, president and chief executive officer of the Federal Reserve Bank of New York, Lael Brainard, vice chair of the Board of Governors of the Federal Reserve,…
Powell warns of ‘some pain’ ahead as Fed fights to lower inflation
[ad_1] Federal Reserve Chairman Jerome Powell delivered a stern commitment Friday to halting inflation, warning that he expects the central bank to continue raising interest rates in a way that…