Former EY Global Chairman and CEO Mark Weinberger warned the U.S. economy will take a 'turn for the worse' during an interview on 'Mornings with Maria.'
Wednesday, former EY Global Chairman and CEO Mark Weinberger warned that inflation will not go down in the near future, causing the economy to "turn for the worse."he experience to date has been pretty good. We were talking a month or so ago, the resilience in earnings and margins has been good, obviously, across the board.. It's been harder hit. Private markets are yet to be hit. We're going to feel that six months from now they usually lag by six months.
United States economic downturn with stock exchange market showing stock chart down and in red negative territory. Business and financial money market crisis concept in the U.S. Now, what that means, far as recession or stagflation we can talk about it, we don't know. But it is going to turn for the worse because. It may be peaking, but it's no indication it's going to go down. Over time, that will eat away at consumption. Consumption drives the U.S. economy and much of the global economy. That's going to be harder to maintain. Post all the money they got from the bailouts and the government that's going to go away, borrowing goes up.
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