S&P 500 plummets to new low for the year while Dow Jones closes down 875 points, as US investors fret about possible recession
, which is scrambling to get inflation under control. Its main method is to raise interest rates in order to slow the economy, a blunt tool that risks a recession if used too aggressively.on Monday that the latest inflation news could lead the Fed to raise its short-term interest rate by three-quarters of a percentage point. That’s triple the usual amount and something the Fed hasn’t done since 1994.
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