Federal Reserve Chair Jerome Powell said Wednesday that it remains unclear if the US economy will slip into recession, even as the central bank sees 2023 growth almost flatlining.

Federal Reserve Chair Jerome Powell speaks during a news conference Wednesday, Dec. 14, 2022, at the Federal Reserve Board Building, in Washington. (Photo: AP)

"I don't think anyone knows whether we're going to have a recession or not, and if we do, whether it’s going to be a deep one or not. It's... not knowable," he said, adding that persistently lower inflation readings could still allow a soft landing for the world's biggest economy.