US' $1.4 Trillion Private Credit Sector Facing Ruin Amid Fed's Rate Hike Frenzy

Federal Reserve chairman Jerome Powell said this week that he expects more interest rate hikes in the near future as inflation continues to remain "well above" the Fed’s 2 percent target. The Fed's year-long battle with inflation has fueled fears of a major economic downturn, or, if combined in a perfect storm of other factors, a complete meltdown.