The economist who predicted the 2008 crisis predicts a recession in the US in 2023
!["Inflation [in the US] has reached its peak, but this is not the last peak of this cycle," said Michael Berry, an expert who predicted the 2008 crisis, noting that the States may face a recession — a slowdown in economic growth, Business Insider reports.](/_next/image?url=https%3A%2F%2Fcdn.orient.tm%2Fstorage%2Fapp%2Fmedia%2Fru%2F2023%2F01%2F03012023krizis.jpeg&w=3840&q=75)
"Inflation [in the US] has reached its peak, but this is not the last peak of this cycle," said Michael Berry, an expert who predicted the 2008 crisis, noting that the States may face a recession — a slowdown in economic growth, Business Insider reports.
The inflation target for the US Federal Reserve is 2%, but during 2022 it jumped to 9.1% in the summer and 7% in the fall. The central bank immediately reacted by raising the interest rate from zero to almost 4%, making it clear that the inflation process is expected to increase.
The fact that a global recession is not expected is stated by Russian experts, arguing that it is possible only if financial problems arise in the two largest economies of the world — the United States and China at the same time.
"I don't expect a deep and protracted recession. The probability always exists, but it is not very high. If there is a recession in the United States and China at the same time, it can cause serious problems for the world economy," said Nikolai Kulbaka, PhD in Economics, in an interview with Lenta.ru .
ORIENT news
Photo: rbc.ru
