Recession not in the latest Fed staff forecast: Federal Reserve Chair
After several months of forecast a recession, the Fed staff now says there are signs of improvement, U.S. Federal Reserve Chair Jerome Powell said. U.S. Federal Reserve Chair Jerome Powell told reporters Wednesday that the Fed staff no longer forecasts a recession for the U.S., and there is a chance inflation could return to target without high job losses. In April, the Federal Reserve staff expected the regional bank crisis to tip the economy into recession, according to a Fed minutes release. Powell indicated during his news conference with reporters that the spring prediction may not be the case. Federal Reserve Chair Jerome Powell speaks during a news conference at the William McChesney Martin Jr. Federal Reserve Board Building following a Federal Open Market Committee meeting, July 26, 2023 in, Washington. Nathan Howard/AP "The staff now has a noticeable slowdown in growth starting later this year in the forecast , but given the resilience of the economy recently, they are ...