https://www.cnn.com/2023/04/11/busin...ook/index.html
"IMF: Banking crisis boosts risks and dims outlook for world economy."
"Already, the global economy was grappling with the consequences of high and persistent inflation, the rapid rise in interest rates to fight it, elevated debt levels and Russia’s war in Ukraine. Now, concerns about the health of the banking industry join the list.
'These forces are now overlaid by, and interacting with, new financial stability concerns,' the IMF said, noting that policymakers trying to tame inflation while averting a 'hard landing,' or a painful recession, 'may face difficult trade-offs.'"
"In a separate report published Tuesday, the IMF said that while the rapid increase in interest rates was straining banks and other financial firms,
there were fundamental differences from the 2008 global financial crisis. Banks now have much more capital to be able to withstand shocks.
They also have curbed risky lending due to stricter regulations."
One of the very few times where I will say an article does hit on the key points somewhat accurately. There is a recession coming, no question about it. Esp. Millennials, when "recession" is heard, they think of 2008, and this upcoming recession won't be as bad as the Great Recession, but people will still feel the effects of it. And notice how they mentioned "hard landing", when the higher ups from the Feds and Treasury still talk about a "soft landing".