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Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Federal Reserve Chief: Nothing suggests US vulnerable to recession

  • By Al Mayadeen Net
  • Source: Agencies
  • 4 May 2022 22:58
2 Min Read

The Federal Reserve's chairman says US inflation has been surprising over the past year, and further surprises are possible.

  • x
  • Federal Reserve Chairman Jerome Powell
    Federal Reserve Chairman Jerome Powell

According to Jerome Powell, the Chairman of the US Federal Reserve, the US economy is strong, and despite a lower GDP in the first quarter and higher interest rates imposed by the Fed, there is no indication that the country is headed for a recession.

"It's a strong economy; nothing about it suggests that it's close to or vulnerable to a recession," Powell told reporters after chairing the Fed’s monthly policy meeting. The central bank approved today its first 50-basis point rate hike in more than 20 years and said there will be at least two increases of this kind in upcoming meetings.

"I think we have a good chance to restore price stability without a recession," Powell added. 

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The US' GDP declined by 1.4% in the first three months of the year, and if there is negative growth in the second quarter then the US will be automatically in a recession. 

With inflation at 8.5% now, the Fed said it will keep up monetary tightening through 2023 if necessary to keep inflation at its annual target of 2%.

Further surprises possible

Powell also noted that if the Federal Reserve does not act appropriately and controls price pressures, then inflation in the US may have more surprises.

"Making appropriate monetary policy in this uncertain environment requires a recognition that the economy often evolves in unexpected ways, inflation has obviously surprised the upside over the past year, and further surprises could be in store," Powell explained, adding that the central bank will need to be "nimble" in responding to incoming data.

  • Federal reserve
  • jerome powell
  • US
  • United States
  • Recession

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