US Fed Members 'more Concerned,' Say Recession Risks Rising: Minutes
American central bankers have grown more fearful, saying a global slowdown and President Donald Trump's trade wars could drag down hiring and the broader economy with it, meeting minutes showed Wednesday.
Washington, Oct 9 (AFP) American central bankers have grown more fearful, saying a global slowdown and President Donald Trump's trade wars could drag down hiring and the broader economy with it, meeting minutes showed Wednesday.
While the outlook remains good for the moment -- with strong jobs markets, low unemployment and the general public continuing to loosen purse strings -- weaker recent economic data have put clouds on the horizon, the minutes showed.
"Participants generally had become more concerned about risks associated with trade tensions and adverse developments in the geopolitical and global economic spheres," according to the minutes from the Federal Reserve's September 17-18 meeting.
Several noted that models gauging recession probabilities had "increased notably in recent months." (AFP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)