Joe Biden’s failed Presidency has done major damage to the country.
But his biggest disaster could be on the way.
And Joe Biden turned white as a ghost after a leading bank made this startling prediction.
Joe Biden has overseen an unprecedented destruction of the economy.
After President Trump gift wrapped him a recovering economy, Joe Biden threw it all away.
Biden’s incompetence and socialist schemes have sunk the economy back to the dark days of Jimmy Carter.
Gas prices are sky high, inflation is running rampant, store shelves are empty, and the stock market is off to one of its worst starts of the year in history.
But Biden has managed to dodge one major economic disaster.
However, his luck might be running out after Deutsche Bank became the first major bank to predict that the United States is headed into a recession.
The bank is concerned that the Federal Reserve’s handling of interest rates will spark the next recession.
With rampant inflation, the Fed is raising interest rates to bring it down.
But raising rates threatens to slow down the economy as borrowing costs rise.
The Fed has to walk a tightrope with interest rate hikes to avoid plunging the economy into a recession.
“We no longer see the Fed achieving a soft landing. Instead, we anticipate that a more aggressive tightening of monetary policy will push the economy into a recession,” stated Deutsche Bank economists.
“We are now projecting a recession in the U.S. and a growth recession in the euro area within the next two years,” the economists added.
They also predicted that the stock market could plunge by as much as 20% after the recession hit.
Deutsche Banks is joined by a growing chorus warning that a recession could be on its way.
Moody’s Analytics chief economist, Mark Zandi, said that “recession risks are uncomfortably high – and moving higher.”
Goldman Sachs have already raised their chances of a recession to 40%.
A recession on top of inflation, high energy prices, and a supply chain crisis would be a disaster for Joe Biden.
Democrats are already facing an uphill battle to maintain their slim majorities in Congress during the Midterm elections.
A recession would lead to a Democrat wipe out and potentially historic losses for the Party.
Biden’s already shaky Presidency would be doomed in 2024.
A recession on top of Biden’s other economic damage would have any Republican starting out in 2024 as the overwhelming favorite.
With Democrats rumored to be looking at pulling the plug on Biden for 2024, a recession could be the move that does it.
Biden’s economy is in a tailspin and it’s clear he doesn’t have any answers.
He’s tried to double down on the failed policies that caused this mess.
But there’s no economic turnaround coming to save the day for him.
With Joe Biden’s economic problems piling up, a recession could be the end of the line for his failing regime.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.