The US Federal Reserve System (FRS) has announced that the country will enter recession this year. In this respect reported in documents posted on the organizer’s website after the meeting.
“The effects of the expected further tightening of bank lending conditions on the backdrop of already tightened financial conditions will lead to a moderate recession that will begin at the end of this year,” the document said.
The report also says that the Fed forecasts a decline in the country’s GDP in the fourth quarter of 2023 and the first quarter of 2024.
At the same time, most experts and analysts have previously stated that the probability of a recession in the US this year is quite high. However, US officials continue to say that the risk of recession in the US is quite low.
June 24 Treasury Secretary Janet Yellen stated to reduce the risk of recession in the country. However, the minister pointed out that all this does not mean that there is no risk. In this regard, he drew attention to the interest rate hike by the US Federal Reserve.
Previously recognized About the inevitability of a global recession.