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Since mid-summer — when the U.S. Federal Reserve began raising interest rates to fight inflation — the agency and experts knew it would have to take cautious steps to ease the inflationary economy into a “soft landing.” That is, the goal is to tighten the money supply and reduce inflation without triggering a recession.
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As we head into 2023, that scenario is looking less likely. Kay Daniel Neufeld, director and head of Forecasting at the Centre for Economics and Business Research, said in a report quoted by Bloomberg: “It’s likely that the world economy will face recession next year as a result of the rises in interest rates in response to higher inflation.”
But experts are gesturing toward multiple factors, working independently or in concert with…
