More pessimistic Powell admits recession is possible

In his second day of testimony on Capitol Hill, Jerome Powell lends more credence to predictions of an economic hard landing, saying the Fed is "not trying to provoke" a recession but it's "certainly a possibility." That's exactly what major Wall Street bans have been telling us for months. Meanwhile, the energy crisis in Europe is accelerating, with Germany running short of natural gas, forcing it to escalate an emergency energy program. 

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