US Recession Odds Surge Over 70%

Markets increasingly bet on economic downturn as the Fed hikes by 75 bps.

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ABOUT

This episode is sponsored by Nexo.io, NEAR and FTX US.

Yesterday, the Federal Reserve increased the target Federal Funds rate by 0.75% – the biggest increase since 1994. While the markets initially popped on the news, stocks subsequently tanked and began pricing in even more economic pain to come. In today’s episode, NLW looks at the growing consensus around the idea that the United States is headed towards a recession.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Drew Angerer/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

HOSTS

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.