Live news updates from June 22: Powell warns US recession is ‘certainly a possibility’, Scholz rules out return to normal relations with Russia | Financial Times
Jay Powell has said a US recession is “certainly a possibility” and warned that avoiding a downturn now largely depends on factors outside the Federal Reserve’s control.
In testimony to the Senate banking committee on Wednesday, the Fed chair acknowledged that it was now more challenging for the central bank to root out soaring inflation while maintaining a strong job market.
