2023-07-10 03:00:27
The US Federal Reserve announced that it expects an economic recession to begin in the US later this year.
In a report, the Reserve indicated that “the effects of the subsequent tightening of bank borrowing conditions, once morest the background of the existing tightening of financial conditions, will lead to a mild recession, which will begin later this year.”
The Federal Reserve expected a decrease in the rates of growth of the gross domestic product in the current and next quarter of this year.
According to the Federal Reserve’s expectations, the US gross domestic product will contract in the last quarter of this year and the first quarter of next year.
(Novosti)
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