The US Federal Reserve is likely to carry on with active monetary tightening to break 8%-plus inflation even at the risk of provoking a recession. But the chances of a ‘soft landing’ – or only a modest recession – are relatively favourable, in view of underlying US economic resilience and a still-dynamic labour market. That was a principal conclusion of a wide-ranging two-day symposium organised by OMIF and the Federal Reserve Bank of Philadelphia, assembling public and central banking officials and financial market practitioners from the US, Asia and Europe. Opening the Philadelphia seminar, supported by the OMFIF ... (full story)