TAMING INFLATION WHILE BEATING THE ECONOMY RESULT IN BANKING CRISIS , PREDICTION OF A SEVERE RECESSION IN 2023

"Around this time last year, Nouriel Roubini, the famed economist who has earned the sobriquet Dr. Doom on Wall Street for his gloomy outlook on markets, warned that it would be “mission impossible” for the U.S. to avoid a severe recession in 2023."

"The comments mark a big shift in tone from Roubini, who in July 2022 said that his peers predicting a short and shallow recession at the time were “totally delusional.” But a lot has changed since last July. Fed Chair Jerome Powell has managed to cool inflation to from its 9.1% pandemic-era high to just 3.7%, all while maintaining U.S. GDP growth; supply chains, which were thrown into chaos during the pandemic, have mostly healed; and despite a short-lived regional banking crisis in March, the S&P 500 is up over 16% year to date."

SOURCE:

https://fortune.com/2023/09/18/dr-doom-nouriel-roubini-short-shallow-recession-soft-landing/

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UBS SHARES FELL AFTER A REPORT OF COMPLIANCE FAILURE AMID RUSSIAN CLIENTS

https://drive.google.com/file/d/18EvHeQCCcRJJPEaonc8pby64KA6fD0Xh/view?usp=drivesdk "ZURICH, Sept 27 (Reuters) - UBS shares fell on Wednesday after a report that the U.S. Department of Justice has stepped up scrutiny into alleged compliance failures that helped Russian clients evade sanctions . UBS declined to comment to Reuters when asked for a response to the Bloomberg News report, which said the alleged compliance failures related to UBS and Credit Suisse, which was taken over by its larger rival UBS (UBSG.S) earlier this year." " Trading in UBS shares was temporarily halted after they fell nearly 8% following the report. The Swiss bank's shares later recovered to trade 3.3% lower at 1500 GMT." SOURCE: https://www.reuters.com/business/finance/ubs-credit-suisse-face-wider-us-probe-over-russia-sanctions-bloomberg-news-2023-09-27/

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