WASHINGTON (Pakistan Point News / Sputnik - 22nd September, 2022) No one can determine whether the US economy will have a soft landing or avoid a recession, US Federal Reserve Chairman Jerome Powell said on Wednesday.
"No one knows whether this process will lead to a recession or if so, how significant that recession would be," Powell said during a press conference. "The chances of a soft landing are likely to diminish to the extent that policy needs to be more restrictive, or restrictive for longer. Nonetheless, we're committed to getting inflation back down to 2% because we think that a failure to restore price stability would mean far greater pain later on."
