On Wednesday, the Fed hiked interest rates by three-quarters of a percentage point, the highest such increase since 1994. White House economic officials on June 19 stressed their belief that “a recession is not inevitable.” (Video: The Washington Post)Yellen pointed to the war in Ukraine and supply chain issues caused by coronavirus-related lockdowns in China as primary drivers of inflation. AdvertisementA recession is “not inevitable,” he said. But “a recession is not inevitable,” she added. But does he believe a recession is inevitable?

Source: Washington Post June 20, 2022 02:37 UTC