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Politico published an article on Monday, and despite President Joe Byden's attempts to reassure the public and investors, the recession is inevitable, "he's an increasingly lonely voice. I warned.
"From Wall Street to Washington, as the Federal Reserve has intensified its fight against the highest inflation in 40 years, whispers about the upcoming downturn have almost started to roar." Economic reporter Victoria Gida wrote: More Whispers: A surge in retreat talks in Washington.
Many financial professionals and the media have warned of a possible recession for several months, and Bloomberg said in May that the federal reserve system was in recession. I published an article claiming that I was likely to expectat that time.
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President Byden will be at the Port of Los Angeles on Friday, June 10, 2022. Let's talk about inflation and supply chain issues. Los Angeles. ((AP Photo / Damian Dovarganes))
"Federal Chair Jerome Powell began to yell out the quiet part," Gida said. Wrote. "The central bank is ready to tolerate the recession if it means it can curb inflation," she said.
"Weiden publicly supports Powell's efforts, but as the Democratic Party of Japan heads for parliamentary elections this year, rising expectations for a recession exacerbate the administration's financial predicament. "She continued.
President Byden publicly states that therecession is inevitable. "There is nothing inevitable about the recession," Byden said when asked by a reporter last month. "Don't make things up," he told reporters.
Governor Democrat acknowledges the possibility of an economic recession and states that he "will make it happen"
Washington-January 22: The Federal Reserve building was in 2008 1 It will be seen in Washington DC on the 22nd of March. (Photo by Chip Somodevilla / Getty Images)
However, Politico's report contradicts Viden's rhetoric on inflation. "Nationally, high inflation, a major topic of economic conversation, is rapidly changing to increasing certainty of the upcoming recession," she wrote. "TheWhite Houseallies support it. Republican legislators show off that a recession is inevitable."
Finance "Wall Street analysts are increasingly incorporating it into their forecasts, and business leaders speak openly about investor talks and internal economic downturns from modest fears." "Their company."
Gida said, "There is a great deal of forerunner question. Does the United States need a recession to curb inflation? How long? And if the country goes into recession until inflation recedes, will the federal government continue to raise rates? "
"JP Morgan Chase Chief US Economist Michael Ferroli said in recent data that personal consumption, the biggest driver of GDP, is starting to slow down, and the economy will soon be in the quarter. She said a retreat could begin. "
File photo: US President Joe Byden in 2021 On November 22, at the South Court Auditorium of the Eisenhower Executive Office Building in White House, Washington, USA, Federal Preparatory Committee Chair Jerome Powell serves a second term and is a member of the Federal Preparatory Committee. El Brenard will be the vice chair. Reuters / Kevin Lamarque / File Photo
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Guida states: "Things seem to make us lose altitude fairly quickly," Ferrori said.
"The government confirmed last week that the economy shrank in the first three months of this year, and the Atlanta Federal Economic Growth Tracker could shrink in the second quarter. I have pointed out an increase in. "
Inflation and economic slowdown can have a negative impact on Democrats in the 2022 midterm elections, experts say.
Joe Silverstein is a production assistant for FoxNews Digital.
