BREAKING: IMF warns 'worst is yet to come' for global economy as recession risks rise
Former IMF chief economist Kenneth Rogoff discusses how much of an economic downturn the Federal Reserve is willing to risk to reduce inflation on 'Mornings with Maria.'on Tuesday slashed its global growth outlook for next year, warning the world economy is headed for "stormy waters" and that there is a growing risk of a painful worldwide recession if major central banks fumble the fight against inflation.
The Washington-based institution said in its latest World Economic Outlook that global gross domestic product will still grow by 3.2% this year, but now anticipates it will slow sharply to just 2.7% in 2023. That is down a 0.2 percentage point from its previous estimate and is a marked decline from its estimate of 4.4% at the beginning of the year.
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