Is the US heading for a recession? Here’s what you need to know | Robert Reich | The Guardian

US-STOCKS-markets
Traders work on the floor of the New York Stock Exchange June 15, 2022 in New York as the US Federal Reserve announces a hike in interest rates. - he Federal Reserve announced the most aggressive interest rate increase in nearly 30 years, raising the benchmark borrowing rate by 0.75 percentage points on June 15 as it battles against surging inflation. The Fed's policy-setting Federal Open Market Committee reaffirmed that it remains "strongly committed to returning inflation to its 2 percent objective" and expects to continue to raise the key rate. (Photo by TIMOTHY A. CLARY / AFP) (Photo by TIMOTHY A. CLARY/AFP via Getty Images)

Is the US heading for a recession? Many signs point in that direction. New home construction slowed in April. Mortgage demand continues to decline. Some of the country’s largest and most influential retailers are reporting disappointing sales and profits. The stock market is in bear territory. Futures markets are signaling trouble ahead.

Source: Is the US heading for a recession? Here’s what you need to know | Robert Reich | The Guardian

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