Federal Reserve Chair Jerome Powell’s bet against a recession may be undermined by a potential credit crunch and a standoff in Washington D.C.
The article notes that Powell has been optimistic about the U.S. economy, pointing to low unemployment, strong consumer spending, and solid GDP growth. However, there are concerns that a tightening of credit conditions could slow down the economy, particularly if the Federal Reserve continues to raise interest rates.
Additionally, there is a risk of a political standoff in Washington D.C. over issues like government spending, which could lead to a government shutdown and negatively impact the economy.
Overall, while Powell’s optimism about the U.S. economy may be well-founded, there are certainly risks and uncertainties that could undermine this outlook. It will be important for policymakers to carefully monitor these risks and take appropriate action to mitigate them, in order to sustain the economic expansion.
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