US economy could replicate a 1990-style recession due to Fed rate hike and inflation, Fitch warns

High inflation and the US Federal Reserve’s jumbo-sized interest rate hikes could drive the economy into a 1990-style mild recession starting in the spring, rating agency Fitch warned.

The rating agency has also slashed GDP growth forecasts for the US for this year and next. US GDP is now expected to grow by just 0.5% next year.


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