US Fed members ‘more concerned,’ say recession risks rising: Minutes

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American central bankers have grown more fearful, saying a global slowdown and President Donald Trump’s trade wars could drag down hiring and the broader economy with it, meeting minutes showed on Wednesday.

While the outlook remains good for the moment — with strong jobs markets, low unemployment and the general public continuing to loosen purse strings — weaker recent economic data have put clouds on the horizon, the minutes showed.

“Participants generally had become more concerned about risks associated with trade tensions and adverse developments in the geopolitical and global economic spheres,” according to the minutes from the Federal Reserve’s September 17-18 meeting.

Several noted that models gauging recession probabilities had “increased notably in recent months. Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.