Warning: Recession Imminent, According To Fed Economists

Newly released minutes from the most recent meeting of the Federal Open Market Committee show that Fed economists expect recent turmoil in the banking sector to trigger a recession starting later this year and extending into 2025

  • The recent turmoil in the U.S. banking sector is likely to tip the economy into a mild recession later this year, Federal Reserve officials were told by the central bank’s staff economists last month.
  • Minutes from the March meeting of the Federal Open Market Committee released Wednesday afternoon indicated that Fed economists forecast a recession beginning later this year.
  • The economy is not expected to fully bounce back until after next year, the minutes show.