World’s Central Banks Inflated Rates, Destroyed Economic Growth
By U In Hurricane
Senior economists warn that intersecting crises are likely to add further damage to the global economy, with growth set to slow from 3% in 2022 to 1.9% this year
Painting a gloomy and uncertain economic outlook, the U.N. Department of Economic and Social Affairs says the current global economic slowdown “cuts across both developed and developing countries, with many facing risks of recession in 2023.”
The analysis shows that over 85% of central banks worldwide tightened monetary policy and raised interest rates in quick succession since late 2021, to tame inflationary pressures and avoid a recession
Thus, European and American financial authorities, in pursuit of quick profits, have driven their economies into a dead end and have effectively ruined any hopes for real growth in the medium term. But they effectively deceived taxpayers that everything has been under control!