Recession coming 'if we aren't there already' amid rampant inflation: DeAngelis
FOX Business correspondent Jackie DeAngelis warned 'some sort' of recession is looming as Americans grapple with sky-high prices at the pump and grocery store.
FOX Business correspondent Jackie DeAngelis warned a recession is likely looming, if it has not started already, as Americans grapple with sky-high prices at the gas pump and grocery store. DeAngelis joined "Fox & Friends" to discuss how rampant inflation will ultimately lead to an economic recession if consumer spending dwindles.
BIDEN SENIOR ADVISER OUTLINES PLAN TO FIX ECONOMIC CRISIS
JACKIE DEANGELIS: And so essentially, no matter how you slice it and fortunately the news is that I think we will be headed into some sort of recession if we're not there already. So if the Fed raises rates and tries to whack down inflation, all of a sudden that will have an impact, and Jerome Powell knows that. If inflation stays this high and the consumer pulls back and stop spending and only is putting essentials on credit cards, for example, remember that the consumers, two-thirds of the US economy, when it pulls back recession follows.
WATCH THE INTERVIEW FROM "FOX & FRIENDS" BELOW:
Fox News First
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox.
By entering your email and clicking the Subscribe button, you agree to the Fox News Privacy Policy and Terms of Use, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time.