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Wall Street Sounds a Louder Recession Call After Fed Rate Hike

  • Guggenheim CIO, economists among those seeing contraction
  • Federal Reserve raised interest rates most since 1994
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WATCH: Federal Reserve Chairman Jerome Powell speaks about the decision to raise its benchmark interest rate by three-quarters of a percentage point.Source: Bloomberg

Analysts increasingly see a recession looming in the US following the Federal Reserve’s biggest increase in interest rates since 1994 and signs of weaker consumer spending. 

The Fed hiked its policy rate by 75 basis points Wednesday to a range of 1.5% to 1.75%, as officials intensified their battle against inflation that’s remained stubbornly high.