The Fed has raised benchmark interest rates several times this year and is expected to continue its efforts to bring the multi-decade-high inflation under control. Inflationary pressure continues to weigh on the economy.
Inflation surged 8.2% from a year ago in September and is hovering near the highest level since 1980. Moreover, according to a recent survey by The Conference Board, 98% of CEOs are preparing for a U.S. recession over the next year or year and a half.
