America is on the brink of recession.
She may even have already fallen into this rut.
And many who think it hasn't yet see a prolonged contraction in the economy beginning at the end of the year.
The leaders of the Federal Reserve maintain that their policy of raising the rate quickly and significantly will not necessarily break the momentum of growth.
Their arguments are not without merit.
Jay Powell, the head of the central bank, points out that full employment and high, but unmet, hiring needs show that demand in many respects still exceeds supply.
Curb overheating
For nearly two years now, the major difficulty for businesses has been finding workers.
The private sector should be more reluctant than ever to downsize.
But recessions are traditionally preceded by social plans.
Read also
A recession in the United States is not “inevitable”, says the secretary of the Treasury
Another favorable factor is that American savings are still at a relatively high level...
This article is for subscribers only.
You have 78% left to discover.
Cultivating your freedom is cultivating your curiosity.
Keep reading your article for €0.99 for the first month
I ENJOY IT
Already subscribed?
Login