Fed Takes Heat as Economists’ Consensus Points to 2023 US Recession
WASHINGTON – Recession is imminent. That’s the clear consensus among U.S. economists. Although the Federal Reserve’s work to bring down inflation has led to a slight drop, prices are expected to keep climbing. There’s a growing belief the Fed missed the mark, over-reacting to put the country right into a recession.
One key factor in all of this is the money supply. In 2020, fear over a pandemic shutdown prompted the Federal Reserve to begin pumping more than $6 trillion into the U.S. economy to combat unemployment and promote economic growth.
Congress injected close to another $6 trillion in stimulus-related spending. The result was an over-stimulated economy.
Read the full story from CBN’s Caitlin Burke:
https://www1.cbn.com/cbnnews/politics/2023/january/fed-takes-heat-as-economists-consensus-points-to-2023-us-recession
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