The Internation Monetary Fund (IMF) doesn’t think the economy is in a recession in 2022 but 2023 will feel like one. How bad is it going to get?
The IMF reports that the world’s biggest economies will continue to stall in 2023 and the worst is yet to come.
IMF Chief Economist @pogourinchas: The world’s three largest economies—US, China, and the euro area—will continue to stall. The worst is yet to come and for many people, 2023 will feel like a recession. https://t.co/SnntPSlwet #WEO pic.twitter.com/mhNpxedXEC
— IMF (@IMFNews) October 11, 2022
And the IMF now recognizes that inflation is high.
Global inflation is proving to be broader and more persistent than we anticipated. We expect it to peak at 9.5% this year before slowing to 4.1% by 2024. https://t.co/SnntPSlwet pic.twitter.com/V0DvhaqIFj
— IMF (@IMFNews) October 11, 2022
The PhDs a the IMF have finally determined that the world economies are not doing well.
In the US inflation is at 40-year highs.
The stock markets are in a bear market and the DOW as it currently stands is having its worst decline in points in history.
DOW Down 2,000 Since Biden’s First Day – $9 Trillion Lost in World Stocks in 3Q Alone
Maybe by 2023 the IMF will realize the world economy is in a crisis.
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