Major Bank Ramps Up Forecast for US Economy, Declares ‘A Major Recession’ Is Coming
A major multinational bank has a gloomy forecast for America’s economy, saying that despite federal leaders wanting to wish away inflation, it is poised to do even more damage.
“We will get a major recession,” Deutsche Bank economists wrote in a report issued Tuesday, according to CNN. The report is titled, “Why the coming recession will be worse than expected.”
“The scourge of inflation has returned and is here to stay,” Deutsche Bank said.
“It is sorely tempting to take a go-slow approach hoping that the U.S. economy can be landed softly on a sustainable path. This will not happen,” the report said.