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MNI INTERVIEW-Fed’s Anti-Inflation Drive Risks Overtightening

(MNI) WASHINGTON

Ex-Fed board economist Julia Coronado says it's a "close call" as to whether the Fed's policies will induce a recession.

The Federal Reserve’s aggressive effort to raise interest rates to fight inflation near 40-year highs raises the risk that policymakers will overdo it and push the economy into recession, driving a steep global downturn, ex-Fed board economist Julia Coronado told MNI.

Coronado does not believe a recession is inevitable, but says the window for avoiding one is narrowing after the August CPI report showed worrisome and broad-based inflation pressures still percolating.

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The Federal Reserve’s aggressive effort to raise interest rates to fight inflation near 40-year highs raises the risk that policymakers will overdo it and push the economy into recession, driving a steep global downturn, ex-Fed board economist Julia Coronado told MNI.

Coronado does not believe a recession is inevitable, but says the window for avoiding one is narrowing after the August CPI report showed worrisome and broad-based inflation pressures still percolating.

Keep reading...Show less