{"id":134812,"date":"2024-08-03T09:00:54","date_gmt":"2024-08-03T06:00:54","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134812"},"modified":"2024-08-03T02:32:29","modified_gmt":"2024-08-02T23:32:29","slug":"top-economist-warns-of-recession-and-rising-inflation","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/top-economist-warns-of-recession-and-rising-inflation\/","title":{"rendered":"Top Economist Warns of Recession and Rising Inflation"},"content":{"rendered":"

This situation is expected to influence the Federal Reserve’s rate-cut decisions, especially in light of recent employment data that has heightened expectations for a substantial rate reduction.<\/p>\n

Schiff highlighted<\/a> <\/strong>troubling economic indicators, noting that only 114,000 jobs were added in July\u2014the smallest gain since December 2020 and far below the anticipated 175,000. The unemployment rate also climbed to 4.3%, the highest since October 2021. He criticized current methods for measuring inflation and unemployment, suggesting that the combined “Misery Index” is higher now than during most of the 1970s. Schiff also criticized current economic policies, dubbing them a disaster that is underreported by the media.<\/p>\n

The disappointing job numbers have fueled speculation about the Federal Reserve’s next steps, with some investors now expecting a 50 basis point rate cut in September, up from the previously expected 25 basis points. Schiff cautioned that while such cuts might increase inflation, they wouldn’t necessarily benefit the economy or the job market, underscoring the complex task facing the Fed.<\/p>\n