Fed Sees Aggressive 5% Hike, Triggering Global Recession | app

Federal Reserve officials will maintain their staunchly hawkish stance next week, laying the groundwork for interest rates to hit 5% by March 2023, moves that appear likely to lead to a U.S. and global recession, said economists surveyed by Bloomberg.

The Federal Open Market Committee will raise rates by 75 basis points for a fourth consecutive meeting when policymakers announce their decision at 2 p.m. in Washington on Wednesday, according to the survey.

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