- There seems to be growing fears that a global recession will take place soon as the Federal Reserve tightens monetary policy.
- The U.S. Federal Reserve began raising its benchmark overnight lending rate in March this year.
- Jerome Powell, the Fed Chair, signaled after the Federal Open Market Committee (FOMC) meeting on the 4th of May that there will likely be similar increases throughout the year.
There seems to be growing fears that a global recession will take place soon as the Federal Reserve tightens monetary policy to help bring down inflation. The U.S. economy shrank an annualized 1.4% in the first quarter of 2022. It is believed that one of the main reasons for this is a record trade deficit.
These events made crypto enthusiast AdLunam react in a tweet post saying that crypto is the solution,
Recession fears have been growing recently as the Federal Reserve tightens monetary policy to help cool down #inflation.
While the US economy shrank an ann …