Recession or not? It is like a suspense thriller. The climax will decide the fate of global markets.

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Federal Reserve board chairman Jerome Powell speaks during a conference in Washington, DC.

Synopsis
There are two camps wondering whether there will be a recession in the US or its economy will do a soft landing. One camp points at the US bond yield spike and the worrying US unemployment data. The other camp marvels at the fall in US inflation. Hinged to this discussion are pointers to future developments in emerging markets.

Has the Fed left the market to move on its own? If that is the case then what does this mean for emerging markets and more importantly to India? Interest rates in the US are high and new data on US unemployment is also not very encouraging. Now there are two sides to this story. While some are saying things are going to cool down, there are others who say that it is time for the US to pay the price for all the quantitative easing (QE) that it