CNBC’s Andrew Ross Sorkin joins Shep Smith to discuss Deutsche Bank’s call that the U.S. will see a recession in 2023. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
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Deutsche Bank, one of the largest financial institutions in the world, has recently made a bold prediction: a global recession may be coming in 2023.
This prediction is based on several factors, including the ongoing COVID-19 pandemic, rising levels of debt, and increasing geopolitical tensions. These issues have all contributed to an uncertain economic outlook and could lead to a significant economic downturn.
One of the primary drivers of this potential recession is the pandemic. Despite the rollout of vaccines in many countries, the virus continues to spread and mutate, leading to new variants that are more infectious and potentially more deadly. This ongoing threat to public health has led to significant disruptions in economic activity, particularly in the travel and hospitality industries.
Additionally, the pandemic has led to a significant increase in public debt levels. Governments around the world have spent trillions of dollars on emergency relief programs to support individuals and businesses affected by the pandemic. While these programs have helped to mitigate the economic impact of the pandemic, they have also led to increased debt levels that could become a significant burden in the future.
Finally, geopolitical tensions between major powers such as the US and China could also contribute to a potential recession. These tensions could lead to trade restrictions, sanctions, and other economic measures that could have a significant impact on global trade and economic growth.
Despite these challenges, there are some reasons for optimism. The global economy has shown resilience in the face of significant challenges in the past, and there are several positive developments on the horizon, such as the continued development of renewable energy technologies.
However, it will be important for governments and businesses around the world to take proactive steps to address these challenges and mitigate their impact. This could include investments in infrastructure, education, and technology, as well as policies that promote sustainable economic growth and job creation.
Only time will tell if Deutsche Bank’s prediction comes to pass, but one thing is clear: the global economy faces significant challenges in the coming years. By taking proactive steps to address these challenges, we can help to ensure a more stable and prosperous future for all.
I think this is what’s needed
Germany is bankrupt tell Deutsche bank..
Twisted fed wants to crush jobs and wages to help themselves to our property
2020 EVERY-ONE'S AFRAID MARKET DOWN=BUY, 2021 EVERY-ONE'S HAPPY MARKET UP=SELL, 2022 EVERY-ONE'S AFRAID MARKET DOWN=BUY, IF GO LOWER=BUY MORE+WAIT. REPEAT THIS OVER AGAIN & AGAIN. Then FIRE YOUR BOSS. Don't you see? Big corporations play us every TWO years.
Bitcoin will crush as well as gold.. nasdaq .. ETc. The global market will fall
20 percent drop. More like 20 percent will be what will be left
Says the only bank in the world that tRump could borrow money?? Still hard to believe much of what Shep Smith says! Bet this report is gold for fake fox! These guys are raising prices more that they should because they CAN!!
Looks like Deutsche Bank has finally analyzed Trumps financial reports.
Dump it
Recession, inflation, debt high ,bankrubcy ,homeless ,migrants influx, crime and economic collapse it sound positive …to buy a gun in US
Coming from a bank that paid half billion fine for tax schemes. In other words don’t believe it.
Remain a net buyer of stocks. Like Buffet.
I thought we were already in Great Depression 2.0. But ok.
This is called "Corporate Greed"…I love how y'all constantly dance around that.
Deutsch what ? Subprime
Hm….
3.6 rontgen. takes drag of cigarette
Not great not terrible
Biden’s agenda
Biden's America!
Deutsche Bank? Total, deeply immoral idiots
INFLATION IS TOO HIGH!!!!!!
The reason unemployment is low is because no one can afford NOT to work. They’ll take any job just to afford groceries and rent, which are both skyrocketing across the country.
How are we not already in one. I live in fear of this whole decade tbh
Not sure saying the economy is doing too good is the right way to look at our current economy. You have to look at the initial conditions. Our economy demand came roaring back after the Covid shutdown and we had to start back up the country which did happen however spending habits changed and majority of spending went into goods not service compared to pre Covid. Our supply chain did not have the compacity coupled with producers needed to start back hiring after the Covid shutdown. Oil producers also took a Covid hit and are now trying to recover their losses with the post Covid Oil demand. These conditions are ripe for inflation. Deeper look into post Covid spending in US (will spending return back to service levels seen pre Covid) and types of employment in the US. Moving pass the roaring post Covid affect over time how resilient will Demand be. Despite current head winds strengthing supply chains in inflationary sectors is beneficial. Fed should lower Demand especially lowering it's liquidity during this window but should not seek to destroy Demand by overshooting too much. I would also be cautious in directly discouraging the consumer as perception is hard to change (back and forth) and is not a good tool for Demand control using more effective indirect Demand control through the Fed and natural markets conditions is preferred.
There has been many cuts in our department. Some are being outsourced slowly as well. We were told their position is more secure than ours. Pay less for the same title.
I should've selected a different career. Now, stressing more on how I am going to pay bills and eat.
Alert !! Supreme Court and DOJ offices may be compromised!
Our government is infiltrated at all levels with Trumpist.
DOJ is providing aid and comfort to the insurrectionist
Supreme Court is providing aid and comfort to the insurrectionist
DOJ Garland had promised to hold Trump insurrectionist accountable, but he has not.
DOJ Garland now thinks letting Trump remain free of charges is the right thing to do!! ….crazy!
NY DA Bragg is probably corrupt because he wont arrest trump for crimes braggs office has well documented.
"This is a fight of good versus evil. Evil always looks like the victor until the King of Kings triumphs. Do not grow weary in well doing. The fight continues. MEADOWS TEXT TO THOMAS. supreme Court Justice Thomas needs to be impeached for his violations of office.
Trumpism is a support for Putin. Wake up and Lock Trump up and support freedom.
Stop The Steal – Don't let Trumpists steal our Democracy and make us like Russia!
Democracy will FAIL if Trump doesn't get indicted!
evil leader like Trump produces evil followers
Man these guys. We are just before the recession so why is comparing to unemployment during the financial crisis. The figure to compare to is Dec 2006 just before financial crises – which was 4.4% unemployment. Looked pretty gold locks didn't it? and we all know what happened next.
Although the job market looks nice now, it actually has a big proportion of low paying jobs where people work 2 jobs and can't even afford food, fuel and rent. As a result, Biden is freaking out and begging the FED as voters will will be very disgruntled in the next election.
Mmm, they said what day???
4.9% unemployment rate is not a recession. That is the standard unemployment rate for decades.
well, we better hurry and raise rates faster!! so the crash can come!
The economy is doing too well for who? MSNBC is so out touch with the middle class american people. They only speak for the upper and elite class
How mild is that recession call? Seriously coming from the same bank that said a correction of at least 10% would hit all of last year. It's happening now and we're going to see the worst of it this year and unemployment is going to be much more than 4.9%.
"they go too quick" – what a laugher. We are at 16% inflation as it was measured in the 70s before the government fudged the #s in the 80s to make it "only" 8%. DONT ACT NOW ITS TOO QUICK!!!! WAIT FOR 30% inflation to act!!!
This is the bank that finances Trump and Putin.
AMERIKKKA IS DEAD.
Lol
So the FED has to stay behind the earnings Beats? Not raising rates sure trumps lowering rates
The economy is doing too well? Tell that to the diminishing number of people who still work.
Late 2023 ? So wait 18+ months.