Worries grew on Thursday when September’s Consumer Price Index report clocked in above expectations. Some now see the Fed issuing two more 75-basis-point rate hikes this year, raising the risk that the central bank tightens the economy too fast.
Raimondo acknowledged markets are still being grappling with volatility. And contrary to what she suggested, 98% of CEOs surveyed by the Conference Board are expecting a US recession.
“I think we have to be cautious, but this should not be a gloom and doom scenario,” Raimondo said.
