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Economic Commentary

Will further Fed rate hikes lead to a recession?

October 18, 2022
By Nationwide Economics
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Highlights from the Monthly Review for October 2022:

Job growth remained above trend and the unemployment rate fell back to historic lows in September. The tight labor market (and rising wages) has kept consumer demand in decent shape despite high inflation. And growth appears to have picked up in the third quarter, with an expected boost from trade.

Key Takeaways:

Economic Review

  • The labor market is still strong as the Fed plans more rate hikes (pg 4)

Financial Markets

  • Markets take a beating as Fed tightening continues (pg 5)

The Outlook

  • The tightening cycle’s endgame is approaching (pg 6)

Will further Fed rate hikes lead to a recession? View the full report to learn more.

October 2022 Monthly Review

Sources/Disclosure

  • The information in this report is provided by Nationwide Economics and is general in nature and not intended as investment or economic advice, or a recommendation to buy or sell any security or adopt any investment strategy. Additionally, it does not take into account any specific investment objectives, tax and financial condition or particular needs of any specific person.

    The economic and market forecasts reflect our opinion as of the date of this report and are subject to change without notice. These forecasts show a broad range of possible outcomes. Because they are subject to high levels of uncertainty, they will not reflect actual performance. We obtained certain information from sources deemed reliable, but we do not guarantee its accuracy, completeness or fairness.

    Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. © 2023 Nationwide.

NFM-11356AO.3

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