“American monetary authorities will have to raise the key exchange rate.”
Publika.az it is reported that this was said by the well-known Russian economist Valentin Katasonov.
According to him, if the US leadership does not take this step in the near future, then the issue can end in a real disaster – inflation can reach a huge level, and then the country will face the danger of stagflation. In this case, inflation will continue to rise, but it will not bring economic growth.
On the other hand, the expert explained that the increase of the main interest rate threatens the United States with the emergence of a large-scale non-payment crisis: “Because when money becomes more expensive, many different economic entities will no longer be able to service their financial obligations on numerous loans, moreover, both private, as well as in the field of business…”.
Katasonov believes that private American banks, which will begin to demand urgent payment of debts from their customers in order to fill their accounts with liquidity, may lose loan money, which will naturally provoke a “debt tsunami” according to the domino principle.
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