“Fed will push us into recession” Economist
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Economists have been raising their doubts in the FED’s capability in handling the rising inflation rate which is looking to fall of the edge into a oblivion recession.
As shared by economist Mohamed A. El-Erian “It is, unfortunately, uncomfortably possible that the Fed is going to slam on the brakes and push us into recession,” during his interview on Yahoo Finance Live in an online interview.
El-Erian’s also remarks that the Fed’s move last week in raising interest rates by 75 basis points (the most aggresive hike in decades) has made Wall Street strategist in notion for an economic slowdown.
The US Central bank was too late in acknowledging that inflation will become a problem and was not quick enough to reacting to the surging prices thus losing credibility in the eyes of wall street and also investors.
Losing credibility in the FED will lead to people doubting its projects, consequently leaving the people with skepticism and distrust towards the FED.
Investors are suggested to rotate their portfolio into defensive sectors which are known to be resilient towards times of economic recession ie. Healthcare, F&B, Utilities and REITs.
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