'Accomplishing price stability will require slower employment growth and a somewhat higher unemployment rate,' Susan Collins said.

A new wave of predictions shows many experts are expecting that a recession is coming to Joe Biden's America.

'They’re going try to avoid recession. They're going to try to achieve a soft landing,' a former president of the Federal Reserve Bank said.

'Median inflation used to be a favorite indicator for team transitory. This month it was at its highest ever reading.'

'Next week, most Fed watchers expect the central bank to announce a third straight three-quarter-point hike, to a range of 3% to 3.25%.'

In addition, the federal government reported that U.S. economy shrank at a 0.6 percent annual rate from April through June.

Fed Chair Jerome Powell and other policymakers have said they hope to reduce the number of open jobs without causing higher unemployment.

The housing market is seeing serious decreases, and the country might be entering a housing recession as buyers face affordability problems.

As interests rates are rising again, the housing market is taking a hit as pending sales decline and new buyers get pushed out of the market.

Even as the Biden administration scrambles to make bad economic data look good, Art Laffer warned it's even worse than we've feared.