Fed Economists and Staff Predict Mild Recession in 2021
TL;DR Summary
Chicago Fed President Austan Goolsbee said a mild US recession is feasible as the Federal Reserve's steep rate-hikes over the past year filters fully through the economy. The US central bank raised its benchmark interest rate by 25 basis points to a 4.75%-5.00% range at its March meeting as it nears a peak in rates. Most Fed policymakers since then have continued to emphasize the need to focus on bringing inflation back to the central bank's 2% goal.
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