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Zenger
Zenger
Business
Bhavik Nair

Researcher: As Inflation Rises, World Faces A Recession In 2023

Inflation Recession Economy Interest Rates
Shoppers flock to Pitt Street Mall during Boxing Day sales on December 26, 2022, in Sydney, Australia. Retailers offer massive discounts and enticing deals on the Boxing Day public holiday in Australia, attracting many shoppers who are keen to take advantage of bargains once Christmas is over. Uncertainies come in 2023 with the rise in inflation and looming of a recession. RONI BINTANG/BENZINGA
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on December 14, 2022 in Washington, DC. The Federal Reserve announced that it will raise interest rates by a 0.5 percentage point to 4.5. ALEX WONG/BENZINGA

The global economy breached $100 trillion for the first time in 2022 but will stall in 2023 in the backdrop of policymakers continuing their fight against inflation, according to the Centre for Economics and Business Research.

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