Powell says chances of a recession are not ‘particularly elevated’

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While the U.S. economy faces a myriad of risks, including a massive surge in inflation, Fed Chairman Jerome Powell still thinks recession chances are low.

“The probability of a recession within the next year is not particularly elevated,” Powell said. “Aggregate demand is currently strong, and most forecasters expect it to remain so.”

“All signs are that this is a strong economy,” he said.

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