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MNI PODCAST: FedSpeak- Blanchflower Says Global Recession Here

(MNI) WASHINGTON
EXECTUIVE SUMMARY
  • Former MPC member David Blanchflower says the dive in consumer sentiment points to a deep U.S. recession.
  • Blanchflower says the labor market is not nearly as tight as the 3.6% jobless rate suggests, and this is giving policymakers a bad steer. "The levels of slack are huge."
  • Much of Europe, the UK and Japan are already in recession, he says: "It's quite clearly global."
  • Inflation is going to plummet and central banks have "overcooked it" with rate hikes, Blanchflower said.

Listen to the full podcast here.

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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