Recession fears amid rising inflation

[MiryalgudaMaruthiRao]

With decades-high inflation and rising oil prices hitting consumer confidence, the recession question has become an increasingly pressing one, according to The Wall Street Journal. The head of the International Monetary Fund said Monday that the global economy was facing "the biggest test since the second world war." Yet, while the IMF suggests downgrades may be likely and some countries would enter recession, it does not "anticipate a global recession." Meanwhile, President Joe Biden is likely to attempt to allay recession fears by stressing low unemployment figures and a strong labor market.