Deutsche Bank has warned that the U.S. economy will suffer a major recession next year. crypto cryptocurrency
Deutsche Bank’s economists have warned that the U.S. will suffer a major recession next year. However, several other major investment banks, including Goldman Sachs and JPMorgan, are less pessimistic about the future outlook for the U.S. economy.Deutsche Bank has predicted a deeper downturn than its previous forecast for the U.S. economy in a report to clients, published Tuesday.
We will get a major recession, but our strongly held view is that the sooner and the more aggressively the Fed acts, the less longer-term damage to the economy there will be. The Deutsche Bank economists detailed: “We assume conservatively that a Fed funds rate moving well into the 5% to 6% range will be sufficient to do the job this time … This is partly because the monetary-tightening process will be bolstered by Fed balance-sheet reduction.”Goldman Sachs recently estimated there is a 35% chance of a recession in the next two years.
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