Risk of recession ‘uncomfortably high’: Moody’s Analytics chief economist
MARK ZANDI: The risks of recession have risen quite considerably… With Russia invading Ukraine, the spike in oil and other commodity prices, inflation expectations have taken off here and the Federal Reserve, as we could see from [Jerome] Powell’s speech yesterday is now on high alert.
It’s going to have to tighten monetary policy a lot more aggressively. Therefore, the risks of recession are now a lot higher… I’d put… the risk of recession now in the next 12 months, at least one in three… that’s uncomfortably high.
Icahn: “Could Be Recession or Worse”
Famed investor Carl Icahn said Tuesday an economic downturn could be on the horizon and he is loaded on protection against a steep sell-off in the market.
“I think there very well could be a recession or even worse,” Icahn said on CNBC’s “Closing Bell Overtime” to Scott Wapner. “I have kept everything hedged for the last few years. We have a strong hedge on against the long positions and we try to be activist to get that edge… I am negative as you can hear. Short term I don’t even predict.”
The founder and chairman of Icahn Enterprises said surging inflation is a major threat to the economy, while the Russia-Ukraine war only added more uncertainty to his outlook.
Carl Icahn is predicting a recession or even worse for the US economy. Markets hate volatility and there is plenty of that. #Recession #Economy #Inflation #PersonalFinance t.co/MFZNtBOvyU
— kgmeyerpc (@kgmeyerpc) March 23, 2022
#recession … #GFC2 US #Income edition t.co/E41OMtZSwU
— Invariant Perspective (@InvariantPersp1) March 23, 2022
#Inflation scare + #war = pessimism.
Dutch consumer #confidence collapsed in March, almost hitting the lowest level ever.
Expect more confidence indices, also businesses related, to show similar declines. Europe is at the risk of a #recession. pic.twitter.com/OpXcjNhSFI
— jeroen blokland (@jsblokland) March 23, 2022
Mortgage Rates Rising Faster Than Expected