According to Dania Pinto, CEO of the GB Morgan Bank, “cutting inflation is absolutely crucial, and if the price is that the economic situation gets a little worse for a while, then this is the price that we have to pay.”
In accordance with the presidential authority, the Federal Reserve “cannot permit inflation to become firmly embedded in the economy,” Bint said. The Federal Reserve is wrong to be aggressive when it comes to interest rates.
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It’s probable that the federal funds rate may peak at around 5%, he continued. According to the statement that “the United States risks stagnation owing to the FBI’s issue,” this is in addition to the high unemployment rate, and it is likely to cut inflation.
I don’t think we’ve yet reached the market bottom, he declared. When you think about the profits of companies next year, expectations may remain very high, and complications are likely to be in some stock markets slightly high. ”
Citation: CNN.
GB Morgan: The recession might be the cost that has to be borne to defeat inflation.
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