Biden Causes World Recession

It’s here folks.

Thanks to President Biden, the International Monetary Fund (IMF) has now slashed their outlook for global growth for 2022 and 2023. Furthermore, the IMF now says that the world economy is now facing a “gloomy and more uncertain” future that has a high likelihood of recession.

According to Fox, the IMF predicted that global gross domestic product will only grow by 3.2% this year which is a 0.4% drop from what they estimated in April. What’s even worse is that they believe in 2023 the global gross domestic product will drop to 2.9% which is a 0.7% drop. To compare the economy grew by 6.1% in 2020.

IMF’s chief economist Pierre-Olivier Gourinchas explained, “The outlook has darkened significantly since April. The world may soon be teetering on the edge of a global recession, only two years after the last one.”

The IMF further noted that inflation has climbed much faster than even they could predict. The inflation rate for wealthy countries currently sits a 6.6% and 9.5% for developing nations on average.

“With increasing prices continuing to squeeze living standards worldwide, taming inflation should be the first priority for policymakers,” the IMF recommended. Hope President Biden and the Democrats listen.