Mr Powell told reporters he didn't think future rate rises would cause a recession in the US and, if it looked like the US was about to tip into a recession, he said the US central bank was prepared to change course swiftly.thinks the US could go into recession in the next year.
The US economy is the biggest in the world and if it dips into recession, the rest of the world is likely to follow."While I am still hopeful the Australian economy can avoid recession, it is"Either way, our share market will likely follow the US into bear market territory."Technically, it's when the value of shares has fallen by 20 per cent or more from a recent high over a sustained period of time.
So interest rates need to go up to slow down spending to slow down inflation — which ultimately will make the cost of living cheaper. But if interest rates go up too quickly, they could make people stop spending altogether and grind the economy to a halt.So we're keeping our eyes on inflation and interest rates as key figures. Here's where they're at:
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. Don't tell me: one is positive and the other negative... .
Get ready for part 2 tomorrow
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