The grim prospects of the US #economy are a hot topic for everyone, from relevant #media to opinion leaders like #ElonMusk and Donald #Trump. The chances of a full-blown recession are estimated at 50%, with individual analysts harbingering an impending economic hurricane.
The US government has indeed found itself between a rock and a hard place: on the one hand, they have to rein in the spiraling price #growth; on the other hand, they need to avoid slowing down the economy. As of May, the #inflation rate beat the 1981 record, reaching 8.6%. Spiking prices have caused an equally drastic reaction on the part of the regulator, with the Federal Reserve System upping the key interest rate by a record 75 bps (unprecedented since 1994) to 1.5-1.75% a year.
However, the market doesn't seem too impressed with the financial authorities’ efforts, with indexes setting new anti-records and fueling debates on whether rock bottom has been reached yet. Two main US indexes, S&P500 and #DowJones, have dropped by almost 20% since the New Year, with the high-tech NASDAQ plunging by an entire 30%.

https://theins.ru/en/economics/253554 #usa #covid-19 #war #ukraine #biden #crisis #fed #russia #eu #china #greece #italy #portugal #spain #recession