Recession coming in next year for Canada and the world, more economists warn
If there is a recession, we could be in for a bad one
The drumbeats warning of a coming recession are getting louder and more persistent.
The toll taken by the rising cost of living and tightening financial conditions around the globe are prompting more economists to sharply downgrade their outlooks.
Former Treasury Secretary Lawrence Summers told Bloomberg TV that there’s an increasing risk the recession he expects will start sooner, in 2022.
“The risks of a 2022 recession are significantly higher than I would have judged six or nine weeks ago,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. “If the economy did go into recession in the next six to nine months, then you’d probably see a reduction in inflationary pressures.”
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If there is a recession, we could be in for a bad one
The drumbeats warning of a coming recession are getting louder and more persistent.
The toll taken by the rising cost of living and tightening financial conditions around the globe are prompting more economists to sharply downgrade their outlooks.
Former Treasury Secretary Lawrence Summers told Bloomberg TV that there’s an increasing risk the recession he expects will start sooner, in 2022.
“The risks of a 2022 recession are significantly higher than I would have judged six or nine weeks ago,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. “If the economy did go into recession in the next six to nine months, then you’d probably see a reduction in inflationary pressures.”
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