The United States is facing rising recession fears as the Federal Reserve, the country’s central bank, remains bullish in fighting high inflation and officials increasingly talk about the need to impose some economic pain to get price pressures under control, several economists told Al Jazeera.“There’s still a good amount of strength in the labour market and that’s going to allow the Fed to remain aggressive in fighting inflation,” Edward Moya, a senior market analyst at OANDA, a New York-based foreign exchange firm, told Al Jazeera.“Price pressures are not going away. And when we take a look at energy prices, the downward move that we’ve been appreciating appears to be over and it looks like oil and gas prices are gonna be heading higher once again,” he said.
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