Hotter-than-expected inflation numbers have strengthened the view that the Fed will raise interest rates by at least 75 basis points at its meeting this week. Analysts are worried that the Fed might overtighten and tip the economy into a recession.
The World Bank anticipates that the world might be edging toward a global recession as the three largest economies, the United States, China, and the Eurozone, have been experiencing a slowdown. The United States has already reported two consecutive quarters of GDP declines.
