This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact The Epoch Times Reprints.
Federal Reserve Board Chair Jerome Powell leaves after a news conference following a two-day meeting of the Federal Open Market Committee in Washington, on July 27, 2022. Reuters/Elizabeth Frantz
The U.S. economy contracted for two consecutive quarters this year, according to a revised government report, which technically meets the criteria for a recession.
The third and final update was released on Sept. 29 by the Bureau of Economic Analysis, as rising inflation and higher interest rates weighed on consumer spending.
