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Home News Business

Markets Around The World Are Showing Signs Of An Oncoming Recession

A global recession is on the horizon, but it’s unclear when it will hit and how severe it will be. The Fed plans to roll out an extremely aggressive money tightening plan, which should severely reel in inflation.

Emma AscottbyEmma Ascott
October 3, 2022
in Business
Reading Time: 1 min read
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According to research firm Ned Davis, there’s now a 98% chance of a global recession.

It’s now certain that the Federal Reserve will press on with its “most aggressive monetary tightening campaign in decades” in order to mitigate inflation from the US economy, according to CNN business.

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Even if this triggers a recession, it will be done, although it will come at the expense of consumers and businesses around the world. Wall Street is also suffering and will continue to, as stocks are on track for their worst year since 2008.

The general agreed upon idea is that a global recession is likely sometime in 2023, but it’s not really possible to predict how severe it will be or how long it will last.

In a report this week, economists at the World Economic Forum wrote, “we are in uncharted waters in the months ahead. The immediate outlook for the global economy and for much of the world’s population is dark,” and added that the challenges “will test the resilience of economies and societies and exact a punishing human toll.”

The one positive aspect to this doom-and-gloom outlook might be that these kinds of crises force transformations that improve standards of living and make economies stronger.

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Source: The New York Times
Tags: Business
Emma Ascott

Emma Ascott

Emma Ascott is a contributing writer for Allwork.Space based in Phoenix, Arizona. She graduated from Walter Cronkite at Arizona State University with a bachelor’s degree in journalism and mass communication in 2021. Emma has written about a multitude of topics, such as the future of work, politics, social justice, money, tech, government meetings, breaking news and healthcare.

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