Watch: America's Non-Recessionary Recession
With today's surprisingly good news on US inflation - read all about it here - we're convinced we're going to see a big growth jump in the States next quarter. But with the Fed determined to raise interest rates still further, our James Knightley in New York says recessionary forces may start swirling again in early 2023
America's non-recessionary recession
US inflation's falling, not least because of lower oil prices, demand is strong as is the labour market. So even though America's in a technical recession, it certainly doesn't feel like it. ING's James Knightley is positive we're going to see a growth rebound later this year. But he says the Fed is still prepared to sacrifice growth to fight rising prices, so real recessionary forces may feel a little stronger in the new year.
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