FOMC Minutes: Staff Predicts Mild Recession; Additional Increases in Fed Funds Rate "Appropriate"
Calculated Risk
JULY 5, 2023
Excerpt: The economic forecast prepared by the staff for the June FOMC meeting continued to assume that the effects of the expected further tightening in bank credit conditions, amid already tight financial conditions, would lead to a mild recession starting later this year , followed by a moderately paced recovery.
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