The Federal Reserve raised the benchmark interest rate by 75 basis points in September for a third consecutive time. Amid widespread macro headwinds, the Conference Board has estimated a 96% likelihood of a recession in the United States within the following year.
However, Treasury Secretary Janet Yellen remains hopeful about the U.S. economy’s strength in avoiding a recession. She said, “We want to see a strong labor market and inflation coming down to more normal levels.”
