The Latest Breaking News from Recession

The Dow Jones rose despite a recession warning from Fed Chair Jerome Powell. Bitcoin tumbled again. Apple stock rose after a bullish call.

Federal Reserve Chair Jerome Powell gave his most explicit acknowledgment to date that steep rate hikes could tip the US economy into recession, saying one is possible and calling a soft landing “very challenging.”

"It is not our intended outcome at all," Powell told lawmakers on Wednesday.

WASHINGTON — Whether it’s President Joe Biden insisting a recession is avoidable or his critics arguing that the wolf is at the door, both sides are acting as though the nation faces an unprecedented catastrophe.

London (AFP) - Wall Street stocks climbed Wednesday as the US Fed chief stressed the need to combat decades-high inflation, but elsewhere equities and oil prices tumbled on mounting recession fears as central banks hike interest rates.

The surging inflation and the Fed’s efforts to tame it by aggressively hiking interest rates have led to many analysts forecasting a recession later this year. Investors must consider picking up stocks that generate passive income in an uncertain economic environment. Medtronic (MDT) recently announced an 8% increase in its…

Washington (AFP) - The US economy remains strong but a series of aggressive rate hikes meant to cool soaring inflation could eventually trigger a recession, Federal Reserve Chair Jerome Powell cautioned Wednesday.

Rising prices and recession mean the last thing the government should do is muddle through and leave everything to the market, writes economics editor Larry Elliott

London (AFP) - Equities and oil prices tumbled Wednesday after a brief respite from last week's painful rout across world markets, with recession fears building as central banks hike interest rates to combat decades-high inflation.

Federal Reserve Chair Jerome Powell underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession

Every domestic energy source, including nuclear power, is under consideration as Germany seeks to fuel its economy and ward off a recession considered likely if faltering Russian gas supplies stop completely.