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* * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?> Blackrock Warns of Unprecedented Recession for 2023, Bull Markets Not Returning – Finance Bitcoin News – CoinsMegaNews

Blackrock Warns of Unprecedented Recession for 2023, Bull Markets Not Returning – Finance Bitcoin News

3 years ago CryptoExpert
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Blackrock, one of the largest asset management companies in the world, has warned that 2023 will be a year of recession different from other recessions in the past. As part of its recently issued 2023 Global Outlook report, Blackrock states that a new economic playbook is required in a world defined by a supply-based economy and high levels of inflation.

Blackrock Predicts Recession and Persistent Inflation

Blackrock, an asset management and investment company, has presented its predictions for what the next year might bring to financial markets. The company, which is estimated to hold $8 trillion in assets under management, foresees a period of recession caused by the policies of central banks directed at controlling inflation. However, according to its 2023 Global Outlook report, this recession will be different from previous downturns.

The report explains:

Recession is foretold as central banks race to try to tame inflation. It’s the opposite of past recessions: Loose policy is not on the way to help support risk assets, in our view.

Furthermore, Blackrock predicts that equities will likely suffer more as they are not priced in for this recession, as the economic damage caused by the actions of central banks is still building. When it comes to inflation, the report states that central banks will have to stop tightening policies before reaching their intended inflationary targets and causing economic crises.

On this, the report concludes that “even with a recession coming, we think we are going to be living with inflation.”

Joint Bull Markets Not on the Horizon

The firm believes that the new economic configuration calls for new ways of facing the markets, as the old playbook of “buying the dip” will not be efficient as there has to be a continuous reassessment of how the dynamic policies exerted create economic damage.

As a result of this, the report declares:

We don’t see a return to conditions that will sustain a joint bull market in stocks and bonds of the kind we experienced in the prior decade.

The firm has also issued its opinion about crypto and cryptocurrency companies in the past. Larry Fink, the CEO of Blackrock, stated that he believed most cryptocurrency companies would not survive the downfall of FTX, formerly one of the largest cryptocurrency exchanges on the market. However, he did recognize that blockchain tech will be important as a tool to help tokenize securities as part of next-generation markets.

What do you think about Blackrock’s market predictions for 2023? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons, viewimage / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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