Many experts have already warned of a worsening of the US economy.
The world’s largest asset manager, however, goes further and predicts an unprecedented recession, reports YahooFinance.
“Recession predicted as central banks race to tame inflation,” wrote a team of BlackRock strategists in their 2023 Global Outlook report
In fact, strategists believe that central banks “deliberately cause recessions by excessively tightening monetary policy” in an attempt to bring price levels under control.
“Central bankers will not come to the rescue when growth slows under this new regime, contrary to investors’ expectations,” the analysts said.
