Investment fund BlackRock warned that 2023 may produce a worldwide recession “unlike any other” and said that what worked during previous recessions “won’t work now.”
Analysts with BlackRock—a controversial investment fund that has pushed for environmental, social, and corporate governance, or ESG—say that the worldwide economy has entered a phase of higher volatility and that a recession is likely imminent after central banks such as the U.S. Federal Reserve have raised interest rates to curb decades-high inflation. Because of these actions, it said, there will be more market disturbances than in previous years.
