Why is Jerome Powell gaslighting us in regards to the odds of recession?

Over the past 12 months, market analysts and commentators have relentlessly predicted that the US is heading for a recession. Nevertheless, the U.S. economic system has been remarkably resilient and defied the forecasts. Certainly, we now have the U.S. Federal Reserve discounting a recession from its present modeling, as Fed Chair Jerome Powell emphasised on the Fed’s July press convention.

There may be, nonetheless, far more to this story.

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