Washington
, SANA- American investor Mike Novogratz warned of the dangerous economic situation in the United States, pointing out that his country's economy is heading towards a very fast recession that may lead to its collapse.
In a press interview with Market Watch, which is concerned with global economic affairs, Novogratz explained that the US Federal Reserve's decision to conduct the largest increase in interest rates in nearly three decades will enter the economy into a very rapid recession in various sectors.
He added that many industries are laying off their workers and the Federal Reserve is stuck in a situation where it is forced to raise interest rates in order to curb inflation, as the housing sector has already started to deteriorate, which indicates a recession in the US economy.
Central bank policymakers agreed to an unusual rate increase of 0.75 percentage points to a range of 1.5 percent to 1.75 percent, the largest rate hike since 1994, with the aim of stepping up efforts to cool inflation, which is hovering around a 40-year high. .
And the American Bloomberg website revealed yesterday that with the acceleration of consumer prices in the United States and the rise in inflation rates to a point that threatens to enter the American economy into a major recession, President Joe Biden finds himself in a serious political impasse that may cost him the midterm elections scheduled for next November and restore Republican control of both Houses Representatives and Senators.
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