for the first time since 1985, adding to pressures the currency faced earlier in the week. The plunge came as newly appointed U.K. Prime Minister Liz Truss introduced the country’s biggest tax cuts since the early 1970s.Article contentthat recent weak retail data exacerbated fears of a deep and prolonged recession, contributing to the pound’s grief.
“Whether the Fed is ultimately right or wrong in what they are doing, they control the ‘magic lever,’ thus investors should be prepared for further weakness economically and markets-wise,” Rosenberg added.More economists are saying recession risks are on the rise. Bank of Montreal chief economist Douglas Porter said the risk of a North American recession over the next year has now climbed above 50 per cent.
Porter added that persistent inflation and the growing risks of a monetary policy overshoot with rapidly rising interest rates are increasing these risks.
StephHughes95 The Covid stupidity bill is coming
StephHughes95 Cows! still worth what they always were:)
StephHughes95 Odd that during an inflation spike, the thing thats being debased is the thing that’s inflating in value. Wacky.
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