CHARLOTTE, N.C. — Inflation is at a 40-year-high and stock prices continue to shrink, raising fears that the U.S. economy is at risk for another recession.
Let's connect the dots.
The Federal Reserve just stepped up its efforts to get inflation under control.
It raised its key interest rate by three-quarters of a point last week. It's the largest hike in nearly three decades.
Click here to sign up for the daily Wake Up Charlotte newsletter
The Federal Reserve also signaled another hike may be in the near future. So, is this a sign of another recession? For now, economists say they don't see one in the near future.
Despite inflation costing consumers more, they say people are still spending at a healthy pace. And businesses are investing in things like equipment and software, which shows signs of a positive outlook.
But experts believe the fed would have to raise its key rate to a least 3.6 % by the end of the year to cause a recession. But even then, economists say the recession would be mild.
MORE ON WCNC
Wake Up Charlotte To Go is a daily news and weather podcast you can listen to so you can start your day with the team at Wake Up Charlotte.
SUBSCRIBE: Apple Podcasts || Spotify || Stitcher || TuneIn || Google Podcasts
Flashpoint is a weekly in-depth look at politics in Charlotte, North Carolina, South Carolina, and beyond with host Ben Thompson. Listen to the podcast weekly.
SUBSCRIBE: Apple Podcasts || Spotify || Stitcher || Google Podcasts
Locked On is the leading podcast network for local sports and is owned by WCNC Charlotte's parent company TEGNA.
Listen to Locked On here.
All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere.