The central bank announced its fourth straight interest rate hike of three-quarters of a percentage point to bring inflation under control. The Federal Reserve, along with central banks around the world, has aggressively hiked interest rates in recent times to tame sky-high inflation, raising the odds of a global recession.
While the recession debate has raged over the past few months, around 90% of CEOs say they now believe a downturn is coming, according to a survey of 400 U.S. CEOs. Moreover, top economists and Street gurus have relentlessly warned that a recession is on the way.
