The media’s favorite permabear says 'a severe enough shock could usher in a global recession, even if central banks respond rapidly.'
The Federal Reserve is widely expected to strike a dovish chord when it meets this week, clearing the way for a July rate cut — the first in more than a decade — that almost 40% of economists in a Wall Street Journal poll are expecting.
‘A severe enough shock could usher in a global recession, even if central banks respond rapidly.’ Nouriel Roubini Last year, he warned of 10 potential downside risks that could lead to a global recession next year. A friendlier Fed, he says, removes one of them, but the others are still firmly in play and have emerged as more dangerous than before.
Also read: Business conditions are at their worst level since the 2008 financial crisis, says Morgan Stanley No signs of any shock to start the week, with markets around the world looking green ahead of Monday’s opening bell in the United States. In cryptocurrencies, the price of bitcoin BTCUSD, +3.75% BTCUSD, +3.75% has crossed the $9,000 threshold for the first time in more than a year.
The buzz He didn’t name names but Apple AAPL, +0.79% boss Tim Cook seemed to take aim at the likes of Silicon Valley tech giants Facebook FB, +3.11% Twitter TWTR, +0.90% and Alphabet’s GOOG, +1.02% YouTube during his speech to Stanford University grads on Sunday. “If you’ve built a chaos factory, you can’t dodge responsibility for the chaos,” he said. “Too many seem to think good intentions excuse away harmful outcomes.
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