The U.S. has suffered through 12 economic recessions since World War II, and No. 13 is on deck.
Tom Joyce, MUFG Securities Americas Managing Director, Global Head of Investment Banking Capital Markets Strategy, speaking at the American Trucking Associations Management Conference and Exhibition in San Diego this week, noted that inflation and labor shortages plaguing the U.S. are global problems, adding that nearly every major global economy is experiencing inflation well above target levels.
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"After a decade of central banks trying to create inflation, we now have extraordinary global inflation in every major economy in the world," he said. Ninety central banks in the world are raising rates to cool inflation, and "every major economy in the world is slowing at the same time."
