The shocks of 2022 have caused a recession for large parts of the world, and several geopolitical and economic factors are contributing to the uncertainty. The Federal Reserve’s rate hikes are creating job losses, while the labor market and corporate balance sheets remain strong.
Analysts predict that the recession will be relatively mild, but it is still difficult to make accurate predictions. The next few years promise to be a turbulent time for the global economy.
References:
[1] https://www.tbsnews.net/bloomberg-special/global-economy-2023-going-be-wild-ride-567002
[2] https://news.bloomberglaw.com/banking-law/the-global-economy-of-2023-is-going-to-be-a-wild-ride
[3] https://www.npr.org/2023/01/24/1150319679/recession-slowdown-inflation-interest-rates-jobs-employment-economy
