Recession

Central Ohio's economy could see new challenges in 2024, including slower job growth than in other parts of the country.

Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.

The Fed will continue raising interest rates this week as inflation continues to soar. Some CEOs worry the fight to bring prices under control could end up sparking an economic downturn.

With inflation at a four-decade high, a growing number of forecasters worry the U.S. economy may be headed to a recession as the Fed gears up to raise interest rates aggressively.

The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.

The economy contracted in the first quarter of 2020 as the coronavirus began to take its toll and spending dived. It's the first quarterly drop in six years and a likely precursor to a deep recession.

The fallout from the coronavirus will be much worse than that of the financial crisis, the IMF says. The global economy is expected to shrink by 3% this year; the U.S. GDP could fall twice as much.

U.S. businesses are shutting down plants and watching their sales plummet around the world. Many economists now say odds are increasing that the economy will slow, if not contract altogether.

The Labor Department says U.S. employers added 130,000 jobs in August, fewer than private analysts had expected. The unemployment rate was unchanged at 3.7%.

Last week, the Dow Jones Industrial Average dropped 800 points as investors saw signs of a possible recession. How an investor reacts to the market swings…