US recession a growing fear as Fed plans to keep rates high
The policymakers also downgraded their outlook for economic growth in 2023 from the 1.2 per cent they had forecast in September to a puny 0.5 per cent – as near to a recession forecast as they were likely to make. What’s more, they raised their expectation for the unemployment rate next year to 4.6 per cent from 3.7 per cent now.
