Wells Fargo says the US will fall into recession after the Fed delivers its biggest rate hike since 1994

Economists at Wells Fargo said Wednesday they expect the US to tip into a recession in 2023 after the Federal Reserve hiked interest rates by the biggest amount since 1994 in a bid to choke off inflation.

The Fed's move prompted a shifting of views on Wall Street about the US growth outlook, with analysts across the board saying the risks of a recession are rising. READ MORE