Contact Us

'Certainly a possibility' rate hikes could trigger US recession: Fed's Powell

Reuters ECONOMY
Published June 22,2022
Subscribe

Rapid interest rate increases are meant to cool demand and bring inflation down, but Federal Reserve Chair Jerome Powell on Wednesday acknowledged the risk that the hikes could trigger a US recession.

"It's not our intended outcome at all, but it's certainly a possibility," Powell said in testimony before the Senate Banking Committee.