'We are not in a recession,' says Fed chair amid rate hike
Powell said that he did not believe the US economy is currently in a recession – but it is softening.
Federal Reserve Board Chairman Jerome Powell attends a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., July 27, 2022.(photo credit: REUTERS/ELIZABETH FRANTZ)ByREUTERS
