New York - CNN Business — Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge.
The question of a recession is no longer if, but when.
Over the past week, the pulse of those flashing red lights quickened as markets grappled with the reality — once speculative, now certain — that the Federal Reserve will press on with its most aggressive monetary tightening campaign in decades to wring inflation from the US economy.
Even if that means triggering a recession. And even if it comes at the expense of consumers and businesses far beyond US borders.
There’s now a 98% chance of a global recession, according to research firm Ned Davis, which brings some sobering historical credibility to the table.
There’s now a 98% chance of a global recession, according to research firm Ned Davis, which brings some sobering historical credibility to the table.
The firm’s recession probability reading has only been this high twice before — in 2008 and 2020. READ MORE...
