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Economists: Global Economy Approaches Recession

  • #Economic conditions & trends
  • #COVID-19
  • #Labor
  • #Russia
  • #Ukraine
  • #World
  • #Unemployment
  • #Income
  • #Prices
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  • #Electricity
story
OCT 2022
Image copyright: File Photo [via Reuters]
story last updated OCT 2022

The Spin

Pro-establishment narrative

Central banks need to raise interest rates to combat inflation by making money more expensive to borrow. By encouraging reduced consumption, rate hikes should result in fewer consumers and companies competing over the currently available supply of goods and services, thereby allowing price increases to moderate. It may be a blunt and even painful tool, but it's a necessary one.

New York Times

Establishment-critical narrative

Continued interest rate hikes will only plunge the world into a recession, severely exacerbate life for the world’s poorest, and fail to tackle the true source of the cost-of-living crisis. Rather than aggravating the deteriorating consumer and investor confidence, there needs to be more attention on supply chain shocks and the “undue advantage” taken by large multinational corporations that boost profits on the backs of some of the world’s poorest.

UNCTAD

Articles on this story

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The Fed's rapid rate hikes are necessary to stem inflation, but they're pushing risks to financial stability dramatically higher, Mohamed El-Erian says
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In Latest Sign of Recession, US Business Activity Contracts for Fourth Straight Month
Washington Free BeaconAUG 2022
JPMorgan President Warns The Worst Is Yet To Come For US Economy
Daily CallerAUG 2022
A Better Quarter for GDP, a Worse Quarter for the Economy
Wall Street JournalAUG 2022
‘Clearly Unstable’: New Data Suggests US Manufacturing Could Be On The Brink Of Collapse
Daily CallerAUG 2022
Most economists say US already in recession — or could be soon: survey
New York PostAUG 2022
The Biden Economy Lurches into Faster Deterioration
BreitbartAUG 2022
The risk of an accidental recession is rising, Goldman Sachs says
CNNAUG 2022
Corporate economists say recession odds are greater than 50-50
CNNAUG 2022