Will there be inflation in the United States of America? Well, the financial experts give their nod. According to the Federal Reserve, the recession will be severe next year. The reason for this is the consumer will lessen his/her spending with high-interest rates.
In the past, 2007 was the most affected year due to the recession. However, India’s banking sector hasn’t been affected as expected as Indians tend to reserve their funds at their homes or invest in the land.
Now, after all these years, inflation signs are shaking up the entire world. Due to this effect, already many tech companies are implementing layoffs which creates a further panic situation. On these lines, economists believe that even a superpower like the USA will have to face the consequences of the recession.
We have to wait and see how much India will be affected by this recession.
