Economist Warns Of ‘inevitable Recession’ As Consumer Spending Drops
‘For those who have a look at an entire range of indicators, if you happen to have a look at what’s happened in markets, if you look on the relative ranges of interest rates of various durations, when you take a look at surveys of consumer expectations, and in the event you look at the simple proven fact that what drives inflation is provide and demand, supply would not change that quick. And so mostly what it’s worthwhile to do to scale back inflation is reduce demand. And that’s a very laborious course of to regulate. And so it often results in a recession,’ he explained.
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