Posted 1/16/2024, 6:06:26 PM
Economist Warns 25% Risk of Global Recession This Year Due to High Rates, Slowing Growth
- 25% chance of global recession this year according to Harvard economist Kenneth Rogoff, up from 15% in a normal year
- Multiple risks factoring in - time since last recession, high interest rates, slowing growth in Europe and China
- Interest rates likely to remain high compared to post-financial crisis period for structural reasons
- Rising government debt levels globally pose sustainability questions if rates stay higher
- Artificial intelligence a "wild card", Rogoff argues for more regulation to manage pace and impact