FILE - In this November 23, 2020, file photo, a Wall Street sign appears in front of the New York Stock Exchange in New York City. Wall Street stocks fall and Treasury yields move sharply on Friday, June 10, 2022, as markets rise after another fiery inflation reading. (AP Photo / Seth Wenig, file)
The stagnation lurked in the shadows as inflation moved away from wages and general consumer confidence. Economists say the narrative has since changed, not whether the economy will fall into a recession.
All eyes will be on Federal Reserve Chairman Jerome Powell on Wednesday when he addresses the press after the board meeting. The Fed had earlier announced that a rate hike in June would reach another half a percentage point. Economists will wait to hear the next steps as inflation shows no signs of slowing.
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