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Cracks in US Economy Start to Show as Recession Warnings Mount

  • Inflation and Fed hikes are biting consumers, housing market
  • Economists see slowdown at best, growing risk of contraction
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WATCH: Fed Chicago President Charles Evans discusses monetary policy, the US economy and inflation.Source: Bloomberg
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The late Nobel Prize-winning economist Paul Samuelson once quipped that Wall Street had predicted nine out of the last five recessions. This time, the stock market may be right.

The US economy is starting to show signs of strain under the weight of decades-high inflation and climbing interest rates -- raising the risk of a downturn.