RED LIGHT

FORTUNE writes:

With inflation at a four-decade high and the Federal Reserve increasing interest rates despite falling growth expectations for the U.S. economy, a recession is now all but inevitable, according to Bill Dudley, the former president of the Federal Reserve Bank of New York.

Dudley admonished Federal Reserve Chair Jerome Powell in a Bloomberg op-ed published Tuesday, arguing he was too slow to act to control rising inflation over the past year. Now, Dudley says, the Fed chair won’t be able to achieve a “soft landing” for the U.S. ...

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