(Bloomberg) — Analysts increasingly see a recession looming in the US following the Federal Reserve’s biggest increase in interest rates since 1994 and signs of weaker consumer spending.
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The Fed hiked its policy rate by 75 basis points Wednesday to a range of 1.5% to 1.75%, as officials intensified their battle against inflation that’s remained stubbornly high.
Wells Fargo & Co. now forecasts a “mild recession” starting in mid-2023, as inflation becomes more…
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