Deutsche Bank is warning of a deeper downturn caused by the Federal Reserve’s quest to knock down stubbornly high inflation: “We will get a major recession”
New York Deutsche Bank raised eyebrows earlier this month by becoming the first major bank to forecast a US recession, albeit a"mild" one.
Now, it's warning of a deeper downturn caused by the Federal Reserve's quest to knock down stubbornly high inflation."We will get a major recession," Deutsche Bank economists wrote in a report to clients on Tuesday. The problem, according to the bank, is that while inflation may be peaking, it will take a"long time" before it gets back down to the Fed's goal of 2%. That suggests the central bank will raise interest rates so aggressively that it hurts the economy.
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