Fed's Powell: 'Soft landing' chances have narrowed
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Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., November 2, 2022. REUTERS/Elizabeth Frantz
(Reuters) - There remains a chance that the U.S. economy can escape a recession as the Federal Reserve raises interest rates to lower inflation, but that window of opportunity for a "soft landing" has narrowed this year as price pressures have been slow to ease, Fed Chair Jerome Powell said on Wednesday.
"Has it narrowed? Yes," Powell said at a press conference after the Fed's latest rate hike. "Is it still possible? Yes."
(Reporting by Dan Burns; editing by Jonathan Oatis)
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