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The Independent UK
The Independent UK
National
Via AP news wire

Fed's aggressive rate hikes raise likelihood of a recession

Copyright 2022 The Associated Press. All rights reserved.

Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed's efforts so far to tame it.

Increasingly, it seems, doing so might require the one painful thing the Fed has sought to avoid: A recession.

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