Power Breakfast: Powell Signals Recession And Keep Aggressive Stance Even After Raising Rates By 0.75%

The US Fed has raised interest rates for the third consecutive time. US Federal Reserve Chairman Jerome Powell raised interest rates by 0.75%. Along with this, the Federal Reserve has indicated a big increase in interest in the coming times as well. Dow Jones fell 525 points, Nasdaq fell 1.8% and Russell2000 fell 1.4%. However, the US Fed aims to bring down the inflation rate to 2%. Unemployment can go up from 3.7% to 4.4%. Gasoline demand in the US fell to a 7-month low after the US Fed raised rates. Brent slipped to near $90.