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In a recent CNBC interview the CEO of Goldman Sachs David Solomon clearly mentioned the possibility of US and Global recession expected in 2023. Jeff Bezos, the founder and executive chairman of Amazon, retweeted CNBC's clip of  Solomon interview with the message, " Yep, the probabilities in this economy tell you to batten down the hatches." A warming to prepare for a crisis. Yep, the probabilities in this economy tell you to batten down the hatches. https://t.co/SwldRdms5v — Jeff Bezos (@JeffBezos) October 18, 2022 Solomon said, "I think it's time to be cautious and I think if you are running a risk based business, it's time to think more  cautiously about your risk box, your risk appetite. I think you have to expect that there is more volatility on the horizon." But he also added, "Now, that doesn't mean for sure that we have a really difficult economic scenario. But in the distribution of outcomes there is a good chance we could have a recess...

United Nations Conference on Trade and Development (UNCTAD) has warned that the current global economic slowdown can threaten the world with the worse financial crisis than what was witnessed during 2008 and 2020 COVID-19 shock. UNCTAD in its report cautioned that monetary and fiscal policies in advanced economies together with rate hikes could culminate in the global recession and a prolonged stagnation. It blamed supply-side shocks, waning consumer and investor confidence and the war in Ukraine for the global slowdown and inflationary pressures. UNCTAD Secretary-General Rebeca Grynspan said in a statement, “We still have time to step back from the edge of recession. Nothing is inevitable. We must change course.”    The report suggests that the whole world will feel the impact, but the developing countries will suffer the most as many of them are edging closer to debt default.  "UNCTAD projects that world economic growth will slow to 2.5% in 2022 and drop to 2.2% in...