By Ellen Chang Mark Zandi of Moddy’s Analytics has a scenario that could avoid a full-blown recession, if the Fed gets lucky. Ever since the Federal Reserve began raising interest rates earlier this year the debate on Wall Street has raged over whether it can curb high inflation without tipping the U.S. economy into a recession. With each successive rate hike, analysts see the pressure rising on Jerome Powell and his colleagues at the central bank. In the latest challenge, consumer prices rose faster than expected last month, fueling the likelihood of another 75-basis point rate hike at the Fe…