US Fed forecasts 'mild recession' in late 2023

Sputnik
Wed, 12 Apr 2023 22:43 UTC

Policymakers at the Federal Reserve have projected that the United States will experience a "mild recession" later this year that could take two years to overcome, minutes of the central bank's policy meeting from March showed.

"Given their assessment of the potential economic effects of the recent banking-sector developments, the staff's projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years," the minutes from the March 22 meeting said.

Comment: If the US Fed is admitting to a mild recession - and this is after a number of significant bank bailouts - then one can expect much, much worse up ahead.