[Hoot Gibson]

The Biden recession will become the Biden depression if this fool remains in office much longer.

Global markets shudder as investors see fight against inflation raising recession risks.

[color=var(--color-content-secondary,#363636)]Global markets sank on Thursday, in many cases giving up gains from the day before, as investors got to grips with moves by policymakers to rein in inflation by raising interest rates, and the effects that steeper borrowing costs could have on economic growth.[/color]

[color=var(--color-content-secondary,#363636)]Futures on Wall Street suggested that stocks would fall when markets open, with the S&P 500 set to drop 2.3 percent. That would more than reverse [color=var(--color-signal-editorial,#326891)]the rise on Wednesday[/color], when the market rallied after the Federal Reserve announced its [color=var(--color-signal-editorial,#326891)]largest rate increase in decades[/color], a sign that it was prepared to inflict some economic pain to get prices under control.[/color]
[color=var(--color-content-secondary,#363636)] Wednesday’s rise broke a streak of five daily losses, but U.S. stocks appear poised to resume their decline, slipping further [color=var(--color-signal-editorial,#326891)]into a bear market[/color].[/color]

[color=var(--color-content-secondary,#363636)]Jerome H. Powell, the Fed chair, stressed that inducing a recession was not part of the plan, but economists are skeptical. Analysts at Bank of America said the Fed was forecasting an “implausibly soft landing” for the economy, while their counterparts at Deutsche Bank called the central bank “overly optimistic” in its thinking that it can tame inflation without causing a recession.[/color]