Could the sell-off raise the danger of a recession?
, which followed a meeting of the Fed on May 4th at which America’s central bank raised rates by 0.5 percentage points, offers an answer: very painful.
a year from now and almost 4% in three years, according to a survey from the Federal Reserve Bank of New York on May 9th.sell-off has been vicious for technology stocks One question is whether the market slump signals deeper trouble in the economy. America’s unemployment rate is just 3.6% and more than 11m jobs remain unfilled. But the more zealous the Fed has to be, the more likely it is to cause a recession. Meanwhile, war in Ukraine has stoked energy prices. And China’s zero-covid policy is damaging its economy and adding to supply-chain snarl-ups around the world.
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