https://www.siliconvalley.com/2023/05/02/can-californias-economy-avoid-a-recession/ > There’s little doubt California’s economy is cooling – but will it tumble into recession? > It’s no secret that much of the ongoing business malaise can be tied to the Federal Reserve’s efforts to cool an overheated U.S. economy and tame an ugly bout of inflation. The Fed’s rate hikes are an especially powerful economic depressant to California’s high-cost economy.