America, Europe, and other advanced economies will likely have a recession this year amid soaring inflation, according to renowned economist Nouriel Roubini.
Roubini issued the warning during an interview with Australia’s ABC on Mar. 2, noting that the latest economic data coming from the United States, Europe, and other advanced economies show that inflation now is quite “sticky.”
The economist, who is nicknamed “Dr. Doom” for being one of the first economists to call the 2008 recession, stated that the central banks in those nations are facing a “dilemma” as they need to raise interest rates higher to fend off inflation, but that doing so could force the economy to contract soon….