{"id":1533448,"date":"2022-06-30T10:50:06","date_gmt":"2022-06-30T14:50:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1533448"},"modified":"2022-06-30T10:50:25","modified_gmt":"2022-06-30T14:50:25","slug":"federal-reserve-chairman-powell-admits-us-faces-higher-recession-risk","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-chairman-powell-admits-us-faces-higher-recession-risk\/","title":{"rendered":"Federal Reserve Chairman Powell admits US faces higher recession risk"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffederal-reserve-chairman-powell-admits-us-faces-higher-recession-risk%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1533448&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2723426\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2723426\" class=\"size-full wp-image-2723426\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22175097297604.jpg\" alt=\"Federal Reserve Chairman Jerome Powell testifies before the House Financial Services Committee on Thursday, June 23, 2022 in Washington. (AP Photo\/Kevin Wolf)\" width=\"1024\" height=\"684\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22175097297604.jpg 1024w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22175097297604-314x210-1.jpg 314w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22175097297604-654x437-1.jpg 654w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/AP22175097297604-768x513-1.jpg 768w\" \/><\/p>\n<p id=\"caption-attachment-2723426\" class=\"wp-caption-text\">Federal Reserve Chairman Jerome Powell testifies before the House Financial Services Committee on Thursday, June 23, 2022 in Washington. (AP Photo\/Kevin Wolf)<\/p>\n<\/div>\n<h5>OAN NEWSROOM<br \/>UPDATED 7:15 AM PT \u2013 Thursday, June 30, 2022<\/h5>\n<p>Federal Reserve Chairman Jerome Powell sent an alarming message about the state of the US economy on President Joe Biden\u2019s watch. He admitted there\u2019s no guarantee for so-called \u201csoft landing\u201d and a recession is possible.<\/p>\n<p>While speaking at a European Central Bank Forum in Portugal on Wednesday, Powell said he couldn\u2019t guarantee that the Federal Reserve can bring inflation back down while also retaining a strong labor market. This means interest rates will continue to go up, which may cause an increase in unemployment.<\/p>\n<p>The Fed chair also added, he\u2019s committed to utilizing every tool at his disposal to ensure economic stability, although he admitted there\u2019s a risk for the Fed going too far and triggering a recession. His remarks came after the US Central Bank raised interest rates in an attempt to curb inflation.<\/p>\n<blockquote>\n<p><strong>\u201cWe think that there are pathways for us to achieve the path back to 2 percent inflation while still retaining a strong labor market,\u201d Powell stated. \u201cWe believe we can do that. That is our aim. There\u2019s no guarantee that we can do that.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>His comments come as the Consumer Confidence Index dropped by 4.5 points this week. US consumers are expecting economic growth to \u201csignificantly weaken\u201d in the second half of this year. This drop has been attributed to a number of reasons such as rising costs for basic necessities, supply chain problems and concerns about the Russia-Ukraine conflict.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, Chair Powell confirmed: <a href=\"https:\/\/twitter.com\/federalreserve?ref_src=twsrc%5Etfw\">@federalreserve<\/a>&#8216;s interest rate hikes won&#8217;t bring down gas and food prices for families.<\/p>\n<p>But they could throw millions of out of their jobs, trigger a recession, and drive our economy off a cliff. <a href=\"https:\/\/t.co\/sD3fzn4KrZ\">pic.twitter.com\/sD3fzn4KrZ<\/a><\/p>\n<p>\u2014 Elizabeth Warren (@SenWarren) <a href=\"https:\/\/twitter.com\/SenWarren\/status\/1539720428083716096?ref_src=twsrc%5Etfw\">June 22, 2022<\/a><\/p>\n<\/blockquote>\n<blockquote>\n<p><strong>\u201cWe\u2019re strongly committed to using our tools to get inflation to come down,\u201d said Powell. \u201cThe way to do that is to slow down growth, ideally keeping it positive. Is there a risk that would go too far? Certainly, there\u2019s a risk.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Economists are saying the probability of the US experiencing a broad economic crisis is rising and could possibly occur in 2023 or even sooner. In the meantime, Biden still insists a recession is not inevitable, despite worsening projections by economists.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Biden burying his head in the sand and denying that a recession is coming will not solve the problem. <\/p>\n<p>Returning to Trump\u2019s policies will!<\/p>\n<p>\u2014 Rep. Lauren Boebert (@RepBoebert) <a href=\"https:\/\/twitter.com\/RepBoebert\/status\/1539255766707838978?ref_src=twsrc%5Etfw\">June 21, 2022<\/a><\/p>\n<\/blockquote>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/ariz-lawmakers-held-up-by-violent-abortion-rioters\/\">Ariz. Lawmakers Held Up By Violent Abortion Rioters<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Chairman Jerome Powell testifies before the House Financial Services Committee on Thursday, June 23, 2022 in Washington. (AP Photo\/Kevin Wolf) OAN NEWSROOMUPDATED 7:15 AM PT \u2013 Thursday, June 30, 2022 Federal Reserve Chairman Jerome Powell sent an alarming message about the state of the US economy on President Joe Biden\u2019s watch. He admitted &hellip;<\/p>\n","protected":false},"author":79,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1533448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1533448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1533448"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1533448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1533448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1533448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1533448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}