US recession a growing fear as Fed plans to keep rates high
WASHINGTON (AP) — After scaling 40-year highs, inflation in the United States has been slowly easing since summer. Yet the Federal Reserve seems decidedly unimpressed — and unconvinced that its fight against accelerating prices is anywhere near over.
On Thursday, stock markets buckled on the growing realization that the Fed may be willing to let the economy slide into recession if it decides that’s what’s needed to drive inflation back down to its 2% annual target.