BlackRock’s top minds seem worried. Investment strategists at the world’s largest asset manager warned of a coming recession, stubborn inflation, and a new era that won’t be so kind to investors in their 2023 Global Outlook released this week.
“The Great Moderation, the four-decade period of largely stable activity and inflation, is behind us,” vice chairman Philipp Hildebrand and a team of top executives wrote. “The new regime of greater macro and market volatility is playing out. A recession is foretold.”
