Central banks and key leaders are increasingly raising further alarms for rising inflation, causing spirals of doubt across the world. Just recently, United States Treasury Secretary Janet Yellen called for Congress to either raise or suspend the U.S. debt ceiling, stating that the government will run out of money to pay its bills by October.
What seems to sound more like a horror film of the future is merely the front news of global financial publications at the moment. Yellen stated that the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe, “potentially precipitating historical financial crises, stock sell-off and recession, creating severe market volatility.”