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FX.co ★ Economists predict slowdown in global economy

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Forex Humor:::2023-11-08T11:58:41

Economists predict slowdown in global economy

According to Bloomberg, the global economy may struggle to cope with rising inflation and recession. Economists believe these challenges could have a profoundly negative impact on the global economy. Many analysts fear that it may not withstand existing threats such as an economic downturn and soaring inflation. Against this backdrop, the growth rate of global GDP in 2024 could slow down. Jamie Dimon, the CEO of American bank JPMorgan Chase, said that monetary authorities rely on forecasts that were "100% dead wrong." Dimon pinpointed that it became challenging to halt the tightening of monetary policy and the rise of the Federal Reserve's key rates. The pessimism of JPMorgan Chase's analyst is echoed by Ray Dalio, CEO and founder of Bridgewater Associates, who predicted a slowdown in global GDP growth rates in 2024. According to Dalio, this slowdown is due to increasing volumes of national debt, as well as geopolitical turmoil. Nevertheless, the head of Bridgewater Associates is confident that monetary authorities will achieve the breakthroughs needed by the global economy. Analysts believe that central banks in various countries are currently facing the tough task of stabilizing their economies. Their main objective will be to minimize adverse factors. According to the International Monetary Fund (IMF), in a negative development scenario, the total damage from the fragmentation of the global economy could reduce global GDP by 7%. The IMF acknowledges that the integration of economic relationships, which was relevant in the second half of the 20th century, may be reconsidered due to escalating geopolitical conflicts.

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