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Newspaper
The Gazette
Location
Medina, Ohio, United States of America
Date
Sep 27, 2022
Page
3
The Dow, S&P 500, and Nasdaq all dropped as fears of a global recession deepened. Banks and energy stocks led losses while the dollar strengthened and the British pound hit record lows amid London tax cut worries.
Boston Fed President Susan Collins said a higher unemployment rate may be needed to curb inflation from a four decade high but that any downturn would likely be modest. She warned a soft landing is achievable though risks of a recession persist as Fed keeps rates at 3.0 to 3.25 percent.
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