First major Wall Street bank to forecast a recession now sees downside risk to its own pessimistic view

MarketWatch/Vivien Lou Chen/4-26-2022

“Deutsche Bank, the first major Wall Street bank to call for a U.S. recession during the current elevated-inflation era, is now going farther out on a limb: It sees downside risks to its own outlook, given the likelihood of persistently elevated price gains and continued upside surprises.”

USAGOLD note: We referenced this report in yesterday’s DMR and repost it here for those who may have missed it. In short, Deutsche Bank sees a recession down the road not quite as bad as the one in the early 1980s, but bad enough. In the meantime, it forecasts plenty of inflation.