NEW YORK, September 29, 2022--The majority of US states have the resources needed to get through an economic recession, according to a new study from Moody’s Analytics. A record 43 states have the cash they need to weather an economic slump without having to resort to severe spending cuts or tax increases.
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Last week, the Federal Reserve continued its fight against inflation, raising its benchmark interest rates by 75 basis points. Since March, the central bank has raised interest rates from near-zero to 3.25%. This sector is one of CEO Warren Buffett's favorites to invest in, with Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) portfolio holding stock in various banks, rating agencies, and payment processors.