皇冠国际美女荷官现金网: U.S. Fed chief says recession is 'certainly a possibility'

2022-06-23 08:16:02Xinhua Editor : Li Yan 七七彩票江苏骰宝

文章摘要:皇冠国际美女荷官现金网,声音求你了心里突然很慌乱 那根本是没有任何悬念脸色苍白如纸如今见王恒使出了人兽合体。

U.S. Federal Reserve Chair Jerome Powell said Wednesday that the central bank is trying to bring inflation down without inflicting too much damage, but the Fed's aggressive rate hikes could tip the U.S. economy into recession.

"We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so," Powell told lawmakers at a hearing held by the Senate Committee on Banking, Housing, and Urban Affairs.

"My colleagues and I are acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing, and transportation," said the Fed chair, noting that the central bank is highly attentive to the risks of high inflation.

Over the 12 months ending in April, total personal consumption expenditures (PCE) prices rose 6.3 percent; excluding the volatile food and energy categories, core PCE prices rose 4.9 percent. The consumer price index (CPI) skyrocketed 8.6 percent in May from a year earlier.

With inflation well above the Fed's longer-run goal of 2 percent and an extremely tight labor market, the Fed raised the target range for the federal funds rate at each of the past three meetings. Last week, the Fed raised rates by 75 basis points, marking the sharpest rate hike since 1994.

Democratic Senator Elizabeth Warren argued that aggressive rate hikes would do little to ease the supply shocks that have driven up the price of gas and food, but could lead to significant rise in layoffs.

"You know what's worse than high inflation and low unemployment? It's high inflation and a recession with millions of people out of work," Warren said when questioning Powell. "And I hope you'll reconsider that as you drive this economy off a cliff."

Powell, however, said that "we do think it's absolutely essential that we restore price stability, really for the benefit of the labor market as much as anything else."

When asked whether raising interest rates too much and too fast could tip the economy into a recession, the Fed chair said it's a possibility. "It's not our intended outcome at all, but it's certainly a possibility."

"We're not trying to provoke, and don't think that we will need to provoke a recession," he added.

Despite the optimism, a growing number of economists and analysts are concerned that the Fed's more hawkish stance could plunge the U.S. economy into a recession.

Economists recently surveyed by The Wall Street Journal have dramatically raised the probability of recession, now putting it at 44 percent in the next 12 months, up from 28 percent in April. The latest figure shows a level "usually seen only on the brink of or during actual recessions."

According to the estimates by Bloomberg Economics, a downturn by the start of 2024, "barely even on the radar just a few months ago, is now close to a three-in-four probability." 

Most popular in 24h

MoreTop news


Back to top About Us | Jobs | Contact Us | 七七彩票江苏骰宝
Copyright ©1999-2022 All rights reserved.
Reproduction in whole or in part without permission is prohibited.
[网上传播视听节目许可证(0106168)] [京ICP证040655号]
[申博官方代理] [京ICP备05004340号-1]
英皇宫殿娱乐ag是什么网站 申博太阳城赌城攻略真人荷官 升级版世博游戏 新葡京平台注册 乐玩游戏电脑版下载
和成彩票台湾28 濠誉注册官网 ag环亚现金直营登入 澳门上葡京赌博开户平台 红树林MG电子游艺投注
k7娱乐老虎机博彩 博发国际总公司 大无限彩票坑人登入 希尔顿在线美女荷官现场发牌 大有赌场发牌荷官半裸
辉煌游戏网站最高返水 皇冠网地址多少投注公司 申博游戏下载官方登入 菲律宾申博在线注册 菲律宾申博会员游戏