Not only the war in Ukraine, Joe Biden He also has other problems to solve. Issues affecting your country and the impending economic collapse. In fact, the situation would be more concerning than what Washington has said of late. The White House chief keeps repeating that “fighting inflation is my priority,” but there are many difficulties, not so much on the jobs front as on that those of prices and growth.
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As La Stampa writes, the quarterly reports of large retailers should be weighed: target and walmart, Two major US companies have announced they are struggling with higher costs, declining sales and ongoing problems in the distribution chain. The disaster scenario is clearly visible on Wall Street, where Target shares fell 2% on Thursday. Many think it could be one’s alarm bell looming recession.
According to some forecasts, there could be a significant drop in GDP in 2023 due to the rise in interest rates and inflation. “The slowdown at large retailers is evidence that inflationary pressures are affecting earnings,” said Maneesh S. Deshpande, analyst at Barclays things have changed”. “The risks of a recession are high and rising,” said Mark Zandi, chief economist at Moody’s Analytics. While according to the Minister of Finance Janet Yellenshould the Fed carry out a “soft landing”, i.e. cut inflation, raise interest rates without plunging the country into recession.
