Should The U.S. Immediately Start Drilling For More Oil?
U.S. Economy Braces For Disaster
The International Monetary Fund has just lowered their outlook for global growth for next year and is now warning that the world economy is barreling towards “stormy waters”.
They went on to warn that there is a painful worldwide recession that will happen if major central banks lose their fight against inflation.
President Biden should take his warning more seriously.
According to Fox, the IMF noted that the global gross domestic product for this year will grow by 3.2% but they say it will slow to just 2.7% in 2023.
Then in their report the IMF said, “The worst is yet to come, and for many people 2023 will feel like a recession.”
The IMF is predicting that about one-third of the world economy will be in a technical recession and there will be a loss output of about $4 trillion by 2026.
Hopefully, Republicans can get things under control after the midterms because President Biden and the Democrats clearly aren’t.
LOOK:
IMF cuts 2023 global growth forecast to 2.7%. Biggest downward revisions to Europe – German and Italy GDP seen contracting, UK only +0.3%.
IMF raises inflation forecasts too.
“In short, the worst is yet to come, and for many people, 2023 will feel like a recession.” pic.twitter.com/NxRV9AubMv
— Jamie McGeever (@ReutersJamie) October 11, 2022
