Fed officials start to embrace the possibility of recession

Policymakers at the Federal Reserve are beginning to entertain the possibility of recession, as high inflation pushes the central bank to raise interest rates at the fastest pace in decades.

“It’s certainly a possibility,” Fed Chairman Jerome Powell told the Senate Banking Committee on Wednesday when asked about the chance of a recession.

Powell clarified: “It’s not our intended outcome.”

The Fed chief’s remarks on Wednesday stand in contrast to his commentary from early May, when…

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