Tuesday, March 28, 2023 10:32 PM
US President Joe Biden said that the banking crisis in the United States is still ongoing and has not ended yet, according to Al-Arabiya news website.
And a survey had revealed that the United States is expected to enter a state of economic recession most likely this year, and will face high inflation until 2024, as expected by the majority of economists in their response to a survey conducted by the National Association for Business Economics. MUST NOT twice annually.
More than two-thirds of respondents in the National Association for Business Economics’ lead survey believe that “the inflation rate will remain above 4 percent at the end of this year.”
And 217 members of the Association participated in the survey, which was conducted between the second and the tenth of March, according to the Foundation said in a statement, published by “Sky News Arabia”.
The US Federal Reserve raised interest rates by 4.75 percentage points in an attempt to curb rising inflation, which last year reached its highest level in decades..
The rise in commodity prices slowed to 6% year-on-year in February, higher than the Fed’s long-term target of maintaining 2%..