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New York Fed economic model says 80 percent chance of hard landing for US economy

The projections of US GDP growth by the New York Fed model are much lower than those of the Federal Open Markets Committee

June 21, 2022 / 09:23 AM IST
New York Fed economic model says 80 percent chance of hard landing for US economy

Representative image (File image: AP Photo)

The US markets are nervous that monetary tightening by the US Federal Reserve will be so harsh that it will tip the US economy into a recession. Janet Yellen, currently Treasury Secretary and erstwhile Fed chair, said recently that a recession in the US is ‘not inevitable’. Last month, she had said that she saw a soft landing for the US economy, although it would require the Fed to be both skilful and lucky. According to the Federal Reserve Bank...

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