Fitch slashes US growth forecast for 2022 and 2023 - CNN | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Friday
July 11, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
FRIDAY, JULY 11, 2025
Fitch slashes US growth forecast for 2022 and 2023 - CNN

Global Economy

Reuters
18 October, 2022, 06:15 pm
Last modified: 18 October, 2022, 06:17 pm

Related News

  • Islamic banking sector in Bangladesh continues to face liquidity challenges: Fitch
  • Fitch affirms Bangladesh’s issuer default rating at ‘BB-’, outlook stable
  • Ukraine in default according to Fitch and S&P
  • Fitch revises Pakistan's outlook to negative, affirms at 'B-'
  • Fiscal improvements to lag economic recovery in Bangladesh: Fitch

Fitch slashes US growth forecast for 2022 and 2023 - CNN

Reuters
18 October, 2022, 06:15 pm
Last modified: 18 October, 2022, 06:17 pm
The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause
The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause

Ratings agency Fitch has slashed growth forecasts for the United States for this year and next and will warn on Tuesday that the Federal Reserve's interest rate hikes and inflation will drive the US economy into a 1990-style recession, CNN said.

US GDP is now expected to grow by just 0.5% next year, down from 1.5% in the firm's June forecast, CNN reported, citing a Fitch report obtained by them.

Economists at Fitch expect recession in the country to be quite mild and the rise in unemployment rate from 3.5% currently to 5.2% in 2024, which implies loss of millions of jobs, but lesser than those lost during the prior two recessions, the report said.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Fitch believes that high inflation will "prove too much of a drain" on household income next year, shrinking consumer spending which will lead to a downturn during the second quarter of 2023, the report added.

US consumer prices increased more than expected in September and underlying inflation pressures continued to build, reinforcing expectations that the Federal Reserve will deliver a fourth 75-basis points interest rate hike next month.

Despite the continued moderation as supply chains ease and oil prices retreat from the highs seen in the spring, inflation is running way above the Fed's 2% target.

Top News / World+Biz / USA

Fitch Ratings Inc / US growth

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Bangladesh's delegation, led by Commerce Adviser Sk Bashir Uddin, began high-level negotiations with USTR Ambassador Jamieson Greer at 9pm Bangladesh time on Thursday (10 July). Photo: Collected from the Facebook handle of Golam Mortoza, Press Minister at the Bangladesh Embassy in the US
    No need to worry as US tariff talks ongoing: Fouzul tells biz leaders
  • Economist Abul Barkat; Photo: Courtesy
    Economist Abul Barkat arrested in graft case
  • Representational image. Photo: Syed Zakir Hossain/TBS
    Explainer: Why SSC pass rate hit a 17-year low

MOST VIEWED

  • Graphics: TBS
    BB raises startup fund limit, drops upper age barrier
  • Workers pack undergarments at the packing section of a garment factory in Ashulia, on the outskirts of Dhaka, Bangladesh, April 19, 2025. Photo: REUTERS/Fatima Tuj Johora
    After US tariffs, jobs hang by a thread in Bangladesh's garments sector
  • Photo: Mohammad Minhaj Uddin/TBS
    SSC, equivalent results: Pass rate drops to 68.45%, GPA-5 also declines
  • File photo of containers at Chattogram port/TBS
    US buyers push Bangladeshi exporters to share extra tariff costs
  • Govt vehicle purchase, foreign trip, new building construction banned: Finance ministry
    Govt vehicle purchase, foreign trip, new building construction banned: Finance ministry
  • Students sit for SSC exam at Motijheel Girls' High School on 10 April 2025. Photo: Mehedi Hasan/TBS
    SSC exam results out: Here's how you can check online and via SMS

Related News

  • Islamic banking sector in Bangladesh continues to face liquidity challenges: Fitch
  • Fitch affirms Bangladesh’s issuer default rating at ‘BB-’, outlook stable
  • Ukraine in default according to Fitch and S&P
  • Fitch revises Pakistan's outlook to negative, affirms at 'B-'
  • Fiscal improvements to lag economic recovery in Bangladesh: Fitch

Features

Photo: Collected/BBC

What Hitler’s tariff policy misfire can teach the modern world

7h | The Big Picture
Illustration: TBS

Behind closed doors: Why women in Bangladesh stay in abusive marriages

10h | Panorama
Purbachl’s 144-acre Sal forest is an essential part of the area’s biodiversity. Within it, 128 species of plants and 74 species of animals — many of them endangered — have been identified. Photo: Syed Zakir Hossain/TBS

A forest saved: Inside the restoration of Purbachal's last Sal grove

10h | Panorama
Photo: Rajib Dhar/TBS

11 July 2024: Riot vehicles, water cannons hit the streets as police crack down on protesters

3h | Panorama

More Videos from TBS

'Hypocrisy' will not continue, Iran tells IAEA

'Hypocrisy' will not continue, Iran tells IAEA

6h | TBS World
OpenAI to release web browser in challenge to Google Chrome

OpenAI to release web browser in challenge to Google Chrome

6h | TBS World
Will the title 'Honorable and Excellency' be abolished?

Will the title 'Honorable and Excellency' be abolished?

7h | TBS Today
July Declaration must be constitutionally recognized: Akhtar Hossain

July Declaration must be constitutionally recognized: Akhtar Hossain

6h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net