SumabilitySum It Up - Your AI for Content Curation. 🤖

Feedback

Bug Report
Feature Request

Twitter page

Topics

AI 🤖Business 💼Cryptocurrency 💰Economy 🏛️Politics 🥸Stock Markets 🤑Technology 🛠️

Posted 9/18/2023, 4:24:00 PM

'Dr. Doom' Roubini Sees Prolonged Inflation Above 2% as 'Mission Impossible' for U.S.

Nouriel Roubini says reaching 2% inflation is "mission impossible" for advanced economies like the U.S.
He cites supply constraints and higher spending needs as reasons inflation will stay above 2%.
Roubini is known as "Dr. Doom" for his often pessimistic economic forecasts.
He rose to fame for predicting the 2008 financial crisis and housing market collapse.
Roubini recently warned of a likely mild recession in 2023 and the risk of central banks "wimping out" on fighting inflation.

marketwatch.com

Relevant topic timeline:

9/12/2023

Putin Addresses Russian Inflation and Rouble Volatility, Says Markets Can Remain Stable

Russian President Vladimir Putin warned that Russia's economy would suffer if inflation is not controlled, stating that the central bank had to raise interest rates to 12% due to increasing inflation, causing difficulties in forming business plans. However, he stated that there were no concerns about rouble volatility and that the government had tools to keep currency and markets under control.

9/13/2023

Russia Faces Mounting Economic Woes as Inflation Soars

Russia's economy ministry has raised its 2023 inflation forecast from 5.3% to 7.5% due to the impact of the war in Ukraine, and President Putin has acknowledged that high inflation is causing difficulties for businesses.

9/22/2023

Ackman Sees Higher Rates Ahead Due to Persistent Inflation Pressures

Bill Ackman, CEO of Pershing Square Capital, believes that the Federal Reserve's goal of 2% inflation is unlikely to be achieved in the near future due to factors such as ongoing worker's strikes and the rising national debt, and he predicts long-term rates will rise further as a result.

Home
Business 💼