Are we in a recession? Call it what you want but here's why it's going to feel like it

Oct. 3— To say the economy has changed in the past nine months would be an understatement. The Federal Reserve's benchmark interest rate, which started near zero, is now as high as 3.25 percent. The yield on the 10- year Treasury, to which many long-term borrowing rates are tied, is near 4 percent after starting the year at about 1.6 percent.