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Fed economists project recession this year
Economists at the Federal Reserve predict that the recent banking instability will cause a slight recession later this year, which could be a concerning development for President Joe Biden as he prepares for an election campaign.
In their briefing to policymakers before interest rate decisions, the central bank staff had previously anticipated a deceleration in GDP growth this year due to the Fed’s efforts to combat inflation.
However, last month, they increased the chances of an economic downturn, as revealed in the minutes from the Fed’s March 21-22 meeting, Politico reported.
"Fed economists project recession this year, in potential blow to Biden"
READ MORE: https://www.politico.com/news/2023/04/12/fed-economists-project-recession-this-year-00091710
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