Lakshman Achuthan, Co-Founder of the Economic Cycle Research Institute, joined Yahoo Finance Live to give his take on a looming recession, as the market awaits Fed’s final decision for this year’s last interest rate decision. This segment aired on November 13, 2023.

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The global economy has undoubtedly been through its fair share of ups and downs over the past few centuries. According to a recent statement by economist Jason Schenker, the world has survived a whopping 48 recessions since 1790.

This staggering number is a reminder of the resilience of the global economy and its ability to withstand various economic downturns. From the Great Depression of the 1930s to the more recent financial crisis of 2008, the economy has faced numerous challenges, yet it has always managed to bounce back.

Schenker’s statement serves as a testament to the fact that economic downturns are a natural part of the business cycle. While they can be difficult to navigate and can have far-reaching impacts on individuals and businesses, history has shown that economies have the ability to recover and thrive once again.

It is also important to note that each recession has its unique set of causes and effects, and the way in which it impacts different sectors of the economy can vary widely. Some recessions are caused by financial crises, while others may be the result of geopolitical tensions or natural disasters.

In recent times, the COVID-19 pandemic has had a significant impact on the global economy, leading to a sharp economic downturn in many parts of the world. However, as the world continues to grapple with the effects of the pandemic, there are signs of a gradual recovery taking place in various sectors.

While it is impossible to predict when the next recession will occur, it is essential for policymakers, businesses, and individuals to be prepared for the possibility of economic downturns in the future. By maintaining a strong economic foundation and implementing sound fiscal and monetary policies, economies can become more resilient in the face of future challenges.

As we look to the future, it is crucial to remember that the economy has survived 48 recessions since 1790, demonstrating its remarkable ability to weather storms and emerge stronger. While economic downturns are inevitable, history has shown that recovery is always possible, and the global economy has the strength to overcome even the most significant challenges.