JSE falls after Jerome Powell warns of recession

The JSE was down on Thursday morning, tracking weaker European peers after the Federal Reserve chair Jerome Powell acknowledged that steep interest-rate hikes could tip the US economy into recession.

In his opening remarks before the Senate banking committee on Wednesday, Powell said that officials “anticipate that ongoing rate increases will be appropriate” to cool the hottest price pressures in 40 years. He, however, acknowledged a soft landing would prove “very challenging”. ..

Source: businesslive.co.za