Do you need any more proof that looking for “technical recessions” is useless? This is the headline I read today: How the Queen saved the UK from a recession—for now That’s how Quartz titled an article about whether the UK will descend into recession. What happened? The UK celebrated the Platinum jubilee of the Queen—70 years on the throne. So that everyone can participate, the government moved one bank holiday—and declared a new one-time bank holiday*.
Today, everyone talks about the US Federal Reserve (short “Fed”) raising the interest rate, how that will affect stocks, and if it will cause a recession in the United States. But what about the rest of the world? Sure, the Fed just sets the interest rate for the US, but it’s a connected world—how will other countries be affected by this change? That’s why it was nice to stumble over an article discussing how the Fed’s move might affect India’s economy.
One tweet by Elon Musk and stocks climb to new heights, cryptocurrencies crash, or the SEC launches lawsuits. You may hate or love this guy, but his word carries weight. In recent months the CEO of Tesla also added his two cents to the discussion around recessions. So, what is Elon Musk thinking about recessions, inflation and the state of the economy? Recession inevitable, but near-term? >50% (Interview at Qatar Economic Forum on June 21, 2022) His opinions on a US recession?