After the Fed raised short term interest rates by 0.75% to a range of 2.25-2.50%, Chairman Jerome Powell said that the U.S. is not currently in a recession, which he described as a ‘broad based decline’ and then added, ‘that’s not what we have now.’
Jill Schlesinger
Powell noted that it’s hard to square a recession with the still-solid labor market.
To underscore that point, Powell recounted stats that showed continued progress over the first six months of the year: the U.S. economy has created 2.
Jill On Money: The ‘recession’ label is not as important as YOU
