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Saturday, December 10, 2022

Investors are right to worry about a US recession as consumer confidence tumbles, top economist Mohamed El-Erian says | Business insider

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The confidence in the economy is at a 16-month low. 

According to prominent economist Mohamed El-Erian, clouds are gathering over the U.S. economy, and the financial markets might be in for another period of turbulence as the Federal Reserve attempts to weather the storm. In June, the Conference Board’s consumer confidence index declined more than anticipated to a 16-month low of 98.7. The Federal Reserve raised interest rates by 75 basis points for the first time since 1994 earlier this month but may have to reduce them if growth slows significantly. 

Source: https://markets.businessinsider.com/news/stocks/us-recession-gdp-economy-growth-risks-fed-mohamed-el-erian-2022-6  

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