Western economies in Europe and the United States are facing a greater likelihood of recession as their central banks aggressively tighten monetary policy to combat inflation, according to Deutsche Bank CEO Christian Sewing in a June 24 interview on CNBC.
In the week of June 13, the U.S. Federal Reserve, European Central Bank, Swiss National Bank, and Bank of England raised interest rate policies at varying degrees.
Central bank officials in the West are aware that the implementation of aggressive tightening policies to control inflation could risk pushing their economies into a recession, while global growth is beginning to slow due to a myriad of factors….