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IPFS News Link • Economy - Recession-Depression

BlackRock - world's largest asset mgr - says central banks are 'deliberately' causing re

• Yahoo Finance

Many experts have already sounded the alarm on the U.S. economy. But you still want to pay attention to what BlackRock — the world's largest asset manager — has to say for a very simple reason: it's predicting a recession unlike any other.

"Recession is foretold as central banks race to try to tame inflation," BlackRock's team of strategists write in their 2023 Global Outlook.

In fact, the strategists believe that central banks are "deliberately causing recessions by overtightening policy" in an effort to bring price levels under control.

In the past, when the economy entered a downturn, the Fed typically stepped in to help. But due to the cause of this projected recession, BlackRock says we can't count on the central bank.