Fed seems less certain it can avoid recession, spurring market jitters

• Recent language by Federal Reserve members suggest a ‘soft landing’ may not be achievable.
• That is heightening fears of a recession and triggering a market sell-off.
• The S&P 500 index is nearing bear market territory.

Federal Reserve officials talk big when it comes to taking on soaring inflation, but there have been signs lately they are just as nervous as the markets about how this game ends for the economy, some analysts say. 

Fed Chairman Jerome Powell said the Fed will do what it takes to cool blistering inflation  – even if it requires the Fed to raise its benchmark fed funds rate substantially above the so-called neutral rate, or the rate that neither stimulates nor restricts the economy.