It will be the Fed's fourth rate hike since March. Since then, with inflation setting new four-decade highs, the central bank has tightened credit ever more aggressively.
. With the November midterm elections nearing, Americans’ discontent has diminished President Joe Biden’s public approval ratings and increased the likelihood that the Democrats will lose control of the House and Senate.
On Thursday, when the government estimates the gross domestic product for the April-June period, some economists think it may show that the economy shrank for a second straight quarter. That would meet one longstanding assumption for when a recession has begun.. During those same six months when the economy might have contracted, employers added 2.7 million jobs — more than were gained in most entire years before the pandemic.
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