No Relief In Sight For Americans
This is pretty scary.
One of Harvard University’s top professors Kenneth Rogoff recent appeared on Fox News to discuss what he thought about the current state of the economy.
Rogoff addressed the news about the U.S. economy shrinking and GDP falling by 1.4% and he explained that he was downright shocked to see it happen.
He then explained that he believe the United States is currently sitting at a 50/50 chance of slipping into a recession.
According to Fox, Rogoff explained, “I think the chances are at least 50/50 that we’ll see a recession over the next year. What I feel really worried about is, I don’t see how the Fed will both bring inflation down to say 2.5 to 3 percent and not have a massive recession.”
Rogoff added, “I think to do that, they’d have to hike rates 4, 5 percent at least, and, over the next year and a half, I don’t think they are going to do that. I suspect we’re going to end up with still high inflation, and, maybe even still a recession.”
