The inflation picture get’s murkier

Project Syndicate/Jim O-Neill/3-9-2023

“In January, I expressed optimism that a recession across the Western world (and beyond) was becoming less likely, and high-frequency indicators since then have indeed supported a benign outlook. This is especially true in the United States and China, now that it has reopened, but it also applies to continental Europe, the United Kingdom (to a more modest degree), and many developing and emerging economies.”

USAGOLD note: While some are convinced we are headed for a recession, O’Neil, former chairman of Goldman Sachs Asset Management, sees a mixed bag of indicators and an economy that could go either way.