'Certainly a possibility' rate hikes could trigger US recession: Fed's Powell
- Economy
- Reuters
- Published Date: 06:02 | 22 June 2022
- Modified Date: 06:02 | 22 June 2022
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.
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