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Wall Street expert predicts recession, US decline by 2024.

Wall Street Veteran: Recession is Inevitable, US Economic Decline Will Begin in ⁣2024

Jeremy Grantham, the co-founder of investment firm Grantham Mayo ⁢Van Otterloo, has been a prominent figure in the‌ world ⁣of Wall⁣ Street ⁤for many years.‍ With his⁣ extensive experience‌ and expertise in⁤ the‍ economy, he‍ is someone worth listening to.

In a recent‍ interview with⁢ Bloomberg, Grantham boldly stated that despite the optimism of some so-called​ “experts,” an upcoming American economic recession is unavoidable. This contradicts the beliefs of economists and Federal Reserve staff members who believe that a recession can be avoided.

Grantham explained why he disagrees with these experts,​ particularly those from the ⁣Federal Reserve. He criticized the Reserve’s​ track record,‍ stating, “The ⁣Fed’s record on ⁤these ​things is wonderful. ⁢It’s⁤ almost guaranteed to be wrong. ⁣They have never called a recession, ⁢and particularly not the⁣ ones following the great bubbles.”

Grantham’s predictions ⁣have been accurate in‍ the‌ past, including foreseeing ​the economic downturns of 2000 and 2008. He believes that the‍ current situation in the United States ​will ⁣lead to​ a recession ⁢that could last ⁢well into the next year, accompanied by a decline in stock prices.

Grantham has also expressed his views on inflation and ‌interest‌ rates. He suspects ⁤that inflation will never be as ​low as⁢ it has been in ​the past decade and that we are ‌entering a period ‍of moderately higher inflation ⁤and ‍interest rates. He emphasizes⁢ the simple relationship between rates‌ and asset prices, stating, “Low rates push up asset prices.⁢ Higher rates⁤ push asset prices down.” He​ believes ⁢that we are now entering an era of⁣ higher rates compared to the last 10 years.

It is ‌clear that Grantham’s insights and predictions carry weight in the financial ‌world. As we approach 2024, it will be interesting to‍ see if his forecast ⁢of an inevitable recession and economic decline comes to fruition.

The post ‌ Wall Street Veteran: Recession is Inevitable, US‌ Economic Decline‍ Will Begin in 2024 ⁤ appeared first on‌ The Western Journal.



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