Express News Service
Jamie Dimon, chairman of JP Morgan, one of the biggest banks in the world, has asked investors to prepare for an economic hurricane. He expects US Federal Reserve to stop bond purchases faster and keep interest rates high to tackle inflation and oil prices to flare up due to the conflict in Ukraine. The storm is likely to lead to a slowdown in global growth significantly. The World Bank and the Organisation for Economic Co-operation and Development, a club of rich countries, have already lowered global growth targets for 2022. Despite a higher growth projected than any other major country, India is unlikely to escape the economic hurricane.
All of that means you need to err on caution and avoid unnecessary risks.
The enemy of your money
Inflation in an economy is the biggest enemy of your finances. The value of money erodes as persistently high inflation increases the cost of living….
