😲 ‘Recession shock coming,’ major US bank warns. Hey… I need a hand up. Please, is anyone listening? I need a hand. 😰
🥺 We, US, are so overextended, stretched to the limit, it is like being sucked into a black hole. 😱
This News Article is by RT, posted 8 Apr, 2022 15:20 HomeBusiness News, see–> https://www.rt.com/business/553524-us-recession-shock-coming/ and photo credit to: Getty Images / MARK GARLICK/SCIENCE PHOTO LIBRARY
Soaring inflation raises the risk of major economic downturn, Bank of America says.
The macroeconomic picture is deteriorating rapidly and could push the US economy into recession as the Federal Reserve tightens monetary policy to tame surging inflation, Bank of America (BofA) warned on Friday.
“Inflation shock worsening, rates shock just beginning, recession shock coming,” BofA’s chief investment strategist, Michael Hartnett, wrote in a weekly note to clients, seen by Reuters. He added that in this context, cash, volatility, commodities and cryptocurrencies could outperform bonds and stocks.
Earlier this week, JPMorgan’s chief executive, Jamie Dimon, said in his annual letter to shareholders that the combination of inflation, the conflict in Ukraine and sanctions against Russia may “dramatically increase risks ahead” for the US. He has warned of unpredictable consequences for the nation’s economy.