one financial tsunami Incomes that risk overwhelming not only markets but, more importantly, pensions. Federico Rampini, in one of his editorial videos for CorriereTv, speaks of “fears of an impending recession, at least in the US in 1 or 2 years”. Inflation is more resilient than hoped, the correspondent points out, and “there are fears that the federal reserve (the US Federal Reserve, editor’s note) will be forced in a few hours to raise interest rates more robustly and over the longer term,” as the ECB President has already done in Europe Christine Lagarde A few days earlier.
Rampini emphasizes that the increase in the cost of money reduces spending on consumption and investments, “because companies and consumers always have to take out loans at some point, for investments or for home loanAnd all of this, he continues, could hasten a recession.
“Then there is the most worrying and least understood phenomenon, that of theimpoverishment. The rise in interest rates devalues the immense wealth binding, from fixed-income securities that make up retirees’ wealth. Because also in America i pension fund are invested in bona”.
The last point of concern is the consequences geopolitical of the Fed’s moves. “We’ll see if the West sticks to the aidUkraine will withstand economic difficulties, and then there is the great challenge between the US and China. Beijing will try again to demonstrate that its capitalism is superior to ours and is already using all the levers of public spending and dirigisme to avoid falling into recession.” Rampini concludes, “Once again the Chinese could hold their heads high and claim they know better than we do how to run the economy”.