London-Sana
Economists and experts have predicted that the US economy is heading for a severe recession next year.
The British Financial Times newspaper reported that a poll in which a large group of prominent academic economists participated showed that an opposite wave is facing the US economy as the Federal Reserve is intensifying its efforts to contain the highest inflation rates in nearly 40 years.
The newspaper pointed out that the US central bank has embarked on what will be one of the fastest tightening cycles in decades, as it has since last March raised the benchmark interest rate by 0.75 percentage points from levels close to zero.
The Federal Open Market Committee will also meet again tomorrow in a two-day policy meeting where officials are expected to implement the first consecutive half point interest rate increase since 1994 and indicate that the pace will continue until at least September.
A recent opinion poll revealed the deteriorating economic conditions in the United States, with the majority of Americans affirming that their country's economy is going through its worst state in ten years.
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