March,27(Agencies)–The United States will likely enter a recession this year and face high inflation well into 2024, a majority of economists predicted in their response to a semiannual survey.
More than two-thirds of respondents to the National Association for Business Economics (NABE) Policy Survey also see inflation remaining above four percent at the end of this year.
The survey summarized the responses of 217 NABE members, and was conducted between March 2 and March 10, the organization said in a statement.
The US Federal Reserve has raised rates 4.75 percentage points in a bid to tackle rising inflation, which reached its highest level in decades last year.
Price rises slowed slightly to an annual level of 6.0 percent in February, which is well above the Fed’s long-term target of two percent.
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