The Centre for Economics and Business Research (CEBR) is warning that the world will experience a recession in 2023 as policymakers continue to fight inflation. “The battle against inflation is not won yet,” said Kay Daniel Neufeld, director and head of forecasting at the CEBR. “We expect central bankers to stick to their guns in 2023, despite the economic costs. The cost of bringing inflation down to more comfortable levels is a poorer growth outlook for a number of years to come.” In other news, a long-time bear on investing in gold, JC Parets, has flipped. The analyst now sees the price of gold heading toward $5,000.

CNBC/Eric Rosenbaum
Dow headed back below 30,000, slim chance of soft landing for economy in 2023: CNBC CFO survey

Every time the stock market has rallied off a low in 2022, it’s headed right back down again. High hopes among investors that the worst is in have turned into head fakes amid the highest interest rates in 15 years. The current slump for stocks ending the year is just the last example, and the selling isn’t over yet.

The latest damage to the Dow Jones Industrial Average will get worse before it gets better, and even as the Fed’s battle with inflation is leading to success, it will come at the price of a hard landing for the economy next year, according to a new survey of chief financial officers conducted by CNBC.

The results of the latest quarterly survey of CFOs are not a surprise. Throughout 2022, conversations with individual CFO Council members have more often than not tended to the view that the economy is headed for a hard landing. At the recent annual summit in Washington, D.C. on Nov. 30, polling in the room showed that the majority of CFOs remained of this view.

You can read the full story, here.

Forbes/Simon Constable
Long-Time Gold Bear JC Parets Turns Bullish; $5,000 Possible

A long-time bear on investing in gold bullion seems to have flip-flopped.

Now he’s bullish, and how!

JC Parets, who founded and runs technical analysis firm AllStarCharts.com now sees the price of gold bullion heading towards $5,000 a troy ounce. Among other things, technical analysts use price charts to predict where asset prices may go next.

You can read the full story, here.

Firstpost
World economy to experience recession in 2023, says Centre for Economics and Business Research

According to the Centre for Economics and Business Research, the world will experience a recession in 2023 as a result of rising borrowing prices intended to combat inflation.

According to the British consultancy’s annual World Economic League Table, the global economy passed the $100 trillion mark for the first time in 2022 but will stagnate in 2023 as policymakers continue their fight against rising prices.

“It’s likely that the world economy will face a recession next year as a result of the rises in interest rates in response to higher inflation,” said Kay Daniel Neufeld, director and head of Forecasting at CEBR.

Read the full story, here.

About the Author

60 Years Experience

REQUEST YOUR FREE
GOLD IRA GUIDE

By clicking the button above, you agree to our Privacy Policy and authorize Red Rock Secured or someone acting on its behalf to contact you by email, text message, pre-recorded message, or telephone technology on a recorded line, for marketing purposes. Consent is not a condition of any purchase.