UN Agency Warns of Global Recession Due to Tightening Monetary Policy

UN Agency Warns of Global Recession Due to Tightening Monetary Policy

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The United Nations Conference on Trade and Development (UNCTAD) got it half right. The UN agency warned that there is a high risk of a global recession due to central banks tightening monetary policy to fight inflation. But the solutions offered reveal that the UNCTAD has no idea what causes inflation. The UNCTAD issued the warning in a statement along with its annual report. “Any belief that they (central banks) will be able to bring down prices by relying on higher interest rates without generating a recession is, the report suggests, an imprudent gamble.” The agency warned that the ensuing...
Source: https://www.newswars.com/un-agency-warns-of-global-recession-due-to-tightening-monetary-policy/