Richmond Fed President Tom Barkin said that warnings that the United States is barrelling toward a financial recession are not supported by the current economic data.
risk of recession
A man shops at a Safeway grocery store in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Barkin added, "I grew up in Florida. I learned you always prepare for hurricanes, but a lot of them pass and don’t hit you."could be racing toward a recession in the next year, as persistently high inflation and an increasingly hawkish Federal Reserve weighs on growth.
If you think the price you’re paying for gas, groceries, or a candy bar has gone up, you are correct. Inflation is affecting the U.S. now more than ever, and some areas have it worse than others.
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