'In response to these developments, we now expect an earlier and somewhat more severe recession,' said Deutsche Bank. inflation
However, Luzzetti explained in the note: “Since that time, the Fed has undertaken a more aggressive hiking path, financial conditions have tightened sharply and economic data are beginning to show clear signs of slowing.” The Deutsche Bank economist continued:The Federal Reserve raised its benchmark interest rate by 75 basis points last week — the biggest increase since 1994.
In its semi-annual report to Congress released Friday, the Fed said: “The committee is acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials … The committee’s commitment to restoring price stability — which is necessary for sustaining a strong labor market — is unconditional.
He added: “That said, higher inflation during that period would likely constrain the Fed’s ability to cut rates to counteract the downturn. On the other side, a more resilient economy in the near-term with more persistent inflation pressures would spell upside risk to our Fed view.” Earlier this month, the World Bank warned of a global recession. “For many countries, a recession will be hard to avoid,”
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
A weak supply response and tight inventories to keep oil prices elevated – Deutsche BankDespite lockdowns in China holding back domestic oil demand the price of black gold has remained above $100. Economists at Deutsche Bank expect oil pr
Leer más »
Sterling Has Further to Fall as Bank of England Wrestles Growth-Inflation Conundrum, Strategists SaySterling has fallen more than 9% against the U.S. dollar so far this year and despite a recent reprieve, currency strategists see further pain ahead.
Leer más »
How a DAO for a bank or financial institution will look likeDAOs could make banks and financial institutions more accountable to their customers and clients. Do you think we'll see a DAO for a bank anytime soon?
Leer más »
Bank of England Admits it 'Underestimated' Inflation, as UK Heads to 11%The Bank of England has admitted that its inflation predictions were widely off, as the UK is bracing for 11 per cent inflation.
Leer más »
HSBC Oman to hold talks on possible merger offer from Sohar International BankHSBC Bank Oman said on Sunday it would hold preliminary talks with local rival Sohar International Bank after the latter last week held out the possibility of a cash-and-shares deal to merge the two lenders.
Leer más »