Fitch Ratings stated in its latest economic forecast that global economic growth is deteriorating, owing to "the deepening slump in China's property market, casting a shadow over global growth prospects just as tighter financial conditions weigh on the demand outlook in the US and Europe.”
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expects the US to fall into recession in the first half of 2024
Federal Reserve “is now close to reaching a peak on rates and we expect just one more 25-basis-point hike to 5.75%. But core inflation is still high — particularly in services — and we have pushed back the date of the first Fed rate cut to May 2024.”
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