And in more of our top stories that we're watching
Citigroup, the latest Wall Street Bank to update its
recession outlook, the firm raising its recession odds to
50% pointing to a combination of factors including inflation,
the latest rate hike from the Federal Reserve and slower
consumer spending and those retail sales numbers that we saw
just last week did indicate that consumers are starting to
pull back a little bit and change where they actually
spend money. So Deutsche Bank Ceo, also noting
the global economy is likely on the road to a
recession, warning about supply chain disruptions in china and
inflation, along with higher food prices, particularly in
the world's poorest countries. Well in the housing market
, as interest rates are borrowing costs soar, that
means higher mortgage rates. More. Homebuyers are opting
for an adjustable rate mortgage versus those common fixed rates --> .