Finance Minister Janet Glenn Says Recession Is Not Inevitable
Jonathan Ernst | Reuters The recession that many Americans fear is imminent is “not at all imminent,” Finance Minister Janet Yellen said Sunday. Discussions about a recession have accelerated this year as inflation remains high and the Federal Reserve is taking aggressive action to tackle it. On Wednesday, the Fed announced interest rate hikes of 75 basis points, the highest since 1994. Fed Chairman Jerome Powell also signaled the Federal Open Market Committee’s intention to continue its aggressive monetary policy tightening to curb inflation....