That window of opportunity for a “soft landing” has shrunk this year as price pressures have been slow to ease, according to Fed Chair Jerome Powell. However, there is still a chance that the U.S. economy can avoid a recession as the Federal Reserve raises interest rates to reduce inflation, he added on Wednesday.
“Has it narrowed? Yes,” Powell said at a press conference after the Fed’s latest rate hike. “Is it still possible? Yes.”
