William Dudley, the former president of the Federal Reserve Bank of New York, wrote this week in Bloomberg, that a recession is inevitable by the end of next year, after warning that the Fed took too long to fight inflation.
Writing in his June 22 Bloomberg Opinion column William Dudley said that in the next 12 to 18 months, the country will inevitably enter a recession, after weakening revenues force companies to lay off workers and the economy will fall into a downturn.
His latest column comes as inflation holds strong and recession fears are hitting a record pitch.
“Much like Wile E. Coyote heading off a cliff, the U.S. economy has plenty of momentum but rapidly disappearing support,” said Dudley adding that “falling back to earth will not be a pleasant experience.”…
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