Experts predict severe downturn in global economy

Experts predict severe downturn in global economy

The President and Chief Operating Officer of Goldman Sachs has joined the pessimistic camp of economists who foresee troubled times in the global economy. The expert warns that the world’s economy will be badly bruised by further upheavals. Earlier, the Chairman and Chief Executive Officer of JPMorgan Chase Jamie Dimon released his dismal forecast for the US economy.

Goldman Sachs’ head John Waldron extended his forecast beyond the US economy and presented the outlook for the global economy which is in jeopardy from his viewpoint. "We expect tougher economic times ahead," Goldman Sachs’s chief John Waldron admitted. He is on the same page with JPMorgan top executive Jamie Dimon who advised investors to brace for an economic hurricane. From his side, John Waldron noted that he would not make an allusion to weather but acknowledged that inflationary risks and the war in Ukraine could put the global economy at stake.

Economists polled by CNBC are more optimistic. Most of them believe that the global economy is set to face a challenge in the coming months. However, it is premature to predict a recession as there is a slim chance of it. Economist Intelligence Unit’s chief analyst Simon Baptist reckons that the stagflation stage will last for almost a year that is unlikely to be followed by a deep recession as projected by some analysts.    



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