Financial Times/Ruchir Sharma/1-29-2023
“Over the past half century, as governments and central banks teamed up ever more closely to manage economic growth, recessions became fewer and farther between. Often they were shorter and shallower than they might have been. After so much mildness, most people cannot imagine a painfully lasting business cycle. But the global economy is heading into a period unlike any we have seen in decades.”
USAGOLD note: Wall Street expects a soft landing, but Rockefeller International’s Sharma worries about a prolonged, grinding downturn. Inflation will remain a problem, and that will hamper the Fed’s ability to cushion the blow.
