Ex-Fed insider: A full-blown recession is 'almost certainly' coming
CNN
The Federal Reserve's war on inflation will eventually kill the economic recovery from Covid-19, former Fed official Bill Dudley warns.
The problem is that the Fed began its quest to tame inflation late, leaving the central bank little choice other than to slam the brakes on the economy by drastically raising interest rates.
"Almost certainly there will be a full-blown recession. If we're not in one yet, I think we will be in the next 12 months," Dudley, the former president of the New York Federal Reserve, told CNN in a phone interview.
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