Global economy approaching a recession, central banks unchained
The global economy is approaching a recession as economists polled by Reuters once again cut growth forecasts for key economies
One bright spot is that most major economies already in a recession or heading into one are starting with relatively low unemployment compared with previous downturns.
A majority of the top global central banks are over two-thirds of the way to the expected terminal interest rate
Michael Every, global strategist at Rabobank, said "risk of a global recession" is what everyone's talking about and has become mainstream in forecasts.
A strong 70% majority of economists, 179 of 257, said chances of a sharp rise in unemployment over the coming year were low to very low, underscoring how widespread the view is among forecasters that it won't be a devastating recession.