Raising US cash rate ‘too quickly’ may stop consumer spending

Sky News Business Reporter Edward Boyd says if the US Federal Reserve raises the cash rate “too quickly and too rapidly”, it will stop the American consumer spending in stores and could potentially trigger a recession. “The problem in America is the same in Australia. Inflation is spiraling out of control and central banks need to bring it down,” he said. US Federal Reserve Chairman Jerome Powell recently conceded a US recession is certainly a possibility for the country in an address to the US Congress. Via news.com.au — Australia’s leading news site https://www.news.com.au