Chances of US recession ‘notably increased’, FOMC members say
Fed rate-setters worried by trade and political uncertainty and weaker manufacturing, minutes show
The likelihood of a US recession has “increased notably” over recent months, Federal Open Market Committee members said in their September meeting.
Participants judged that downside risks from trade policy uncertainty, the slowing global economy and geopolitical conditions had worsened since the July meeting, published minutes of the meeting reveal.
The Federal Reserve reduced its policy rate by 25 basis points in both the July and September meetings, to its current 1.75–2% target range.
The
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