Analysts Debate Economic Fallout Odds From Russia’s Invasion, Historian Says World May Face Worst Energy Crisis Since the 1970s – Economics Bitcoin News - BitcoinEthereumNews.com
While Russia‘s Ukraine invasion has been at the forefront of people’s minds, a global recession and the possibility of an energy crisis have been thrown into the conversation. Reports concerning the U.S. economy note that risks of an economic recession are climbing, and energy market historian Daniel Yergin thinks the current warfare in Ukraine could spark major energy issues like the 1970s oil crisis. Top Economists Say Odds of Recession Are Rising, While Some Are Inclined to Believe Economic Fallout Will Be ‘Modest,’ Energy Disruptions Will Be ‘Limited and Temporary’ On Friday, USA Today author Paul Davidson explained in a report that the odds of a recession in 2022 “are rising amid soaring inflation.” Davidson detailed that “some top economists are raising the odds of a slump within the next year or so.” The risk increased despite the strong jobs market in the U.S., as the USA Today author writes that energy prices are spiking and inflation has reached historic levels. On the other hand, Moody‘s Analytics chief economist Mark Zandi explained on February 28, that in terms of the U.S. economy, the fallout from Russia’s invasion of Ukraine will likely be “modest.” Zandi said the energy market disruptions will be “limited and temporary”