US Fed Chair Warns of Rising Risk of Economic Recession

In a recent press conference, US Federal Reserve Chair Jerome Powell warned that the likelihood of an economic recession in the United States is increasing. Speaking after the Federal Reserve decided to keep interest rates unchanged at its latest meeting, Powell highlighted growing economic uncertainty.

“We’ve seen signs of domestic turmoil and shifts in economic conditions that raise concerns about the future,” Powell stated. “The combination of various factors is contributing to increased uncertainty in the economy.”

Although he did not specify particular causes, analysts suggest that global market fluctuations, lingering effects from past trade policies, and ongoing economic challenges may be contributing to the heightened risk.

The Federal Reserve’s decision to keep interest rates steady reflects a cautious approach amid these uncertainties. Powell emphasized the importance of monitoring economic indicators closely and being prepared to adjust policies as needed.

The prospect of a recession not only impacts the US but can have ripple effects globally, affecting markets and economies around the world, including those in the Global South.

Young people and emerging economies should stay informed about these developments, as changes in the US economy often influence global trade, investment, and employment opportunities.

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US Fed chair: The likelihood of a US economic recession is increasing

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