Buckle up, because the economic rollercoaster might be heading for a wild ride! BCA strategist Roukaya Ibrahim’s recession warning gains even more urgency as we look around the world. A slew of countries, including Denmark, Estonia, Finland, Japan, Luxembourg, Moldova, Peru, Ireland, and the United Kingdom, are already in the throes of a recession.
In a hair-raising interview with Fox Business Network, Ibrahim doubles down on her prediction that the US is not immune to this global economic turbulence. Brace yourselves, because if her forecasts hold true, the S&P 500 might nosedive to a gut-wrenching 3,500, marking a staggering 26% plunge from its current heights.
The ominous outlook stems from the Federal Reserve’s “aggressive” monetary tightening since March 2022, pushing interest rates to levels not seen since 2001. Economists have long warned that such a scenario could spell trouble, and Ibrahim firmly believes it’s steering us toward a recession.
As the full impact of these Federal Reserve moves reverberates through the economy, red flags are already emerging. Auto loan delinquencies are on the rise, a clear signal that people are struggling to keep up with debt payments amidst inflation’s bite and soaring borrowing costs.
Adding to the symphony of alarm bells, economist David Rosenberg anticipates a recession hitting the US economy in 2024. The economic storm seems to be gaining strength, and the warning signs are not just in our backyard but across the globe. It’s time to fasten our seatbelts; we might be in for a turbulent economic ride.
In a hair-raising interview with Fox Business Network, Ibrahim doubles down on her prediction that the US is not immune to this global economic turbulence. Brace yourselves, because if her forecasts hold true, the S&P 500 might nosedive to a gut-wrenching 3,500, marking a staggering 26% plunge from its current heights.
The ominous outlook stems from the Federal Reserve’s “aggressive” monetary tightening since March 2022, pushing interest rates to levels not seen since 2001. Economists have long warned that such a scenario could spell trouble, and Ibrahim firmly believes it’s steering us toward a recession.
As the full impact of these Federal Reserve moves reverberates through the economy, red flags are already emerging. Auto loan delinquencies are on the rise, a clear signal that people are struggling to keep up with debt payments amidst inflation’s bite and soaring borrowing costs.
Adding to the symphony of alarm bells, economist David Rosenberg anticipates a recession hitting the US economy in 2024. The economic storm seems to be gaining strength, and the warning signs are not just in our backyard but across the globe. It’s time to fasten our seatbelts; we might be in for a turbulent economic ride.
Additional Warning:
Federal Reserve Chair Jerome Powell throws more fuel on the fire, cautioning that “The Debt Is Growing Faster Than the Economy.” Powell warns that the US is treading an “unsustainable fiscal path,” intensifying concerns about the economic outlook. The warning lights are flashing brighter, and the challenges ahead seem more daunting than ever.
Sources:
Economies currently in recession
🇩🇰 Denmark
🇪🇪 Estonia
🇫🇮 Finland
🇯🇵 Japan
🇱🇺 Luxembourg
🇲🇩 Moldova
🇵🇪 Peru
🇮🇪 Ireland
🇬🇧 United Kingdom— Financial Index (@financial_index) February 23, 2024