The Federal Reserve announced another 75 basis-point interest rate hike on Wednesday. Moreover, the central bank officials hinted at continuing with its aggressive stance at the risk of a possible recession until inflation comes down to its target level.
The Fed’s aggressive stance has led to many economists predicting a recession by next year. Bridgewater Associates founder Ray Dalio sees the early signs of a recession. He expects more pain for the U.S. economy over the next two years.
