Inflation keeps rising at rates not seen in the United States in 40 years. The Federal Reserve continues to raise interest rates in an attempt to get prices under control. Meanwhile, global markets are experiencing significant instability and decline, as investor sentiment grows more and more pessimistic.

With central bankers and policymakers doing what they can to ease inflation—all while the war in Ukraine continues to disrupt global economic activity—is a global recession in 2023 inevitable, or is there light at the end of the tunnel? Leading economic experts discussed these topics at this year’s Economic Outlook in Chicago on January 10.

Speakers

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Wenxin Du

Professor of Finance and Fama Faculty Fellow

Wenxin Du is financial research adviser at the Federal Reserve Bank of New York. Prior to joining Booth, Du was principal economist at the Board of Governors of the Federal Reserve System, where she was responsible for monitoring and analyzing developments in international financial markets for the FOMC. She was also a central bank research fellow at the Bank for International Settlements in Basel, Switzerland.

Wenxin Du
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Randall S. Kroszner

Norman R. Bobins Professor of Economics

Randall S. Kroszner served as a governor of the Federal Reserve System from 2006 until 2009. He chaired the committee on Supervision and Regulation of Banking Institutions and the committee on Consumer and Community Affairs. He took a leading role in developing responses to the financial crisis and in undertaking new initiatives to improve consumer protection and disclosure.

Randall S. Kroszner
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Raghuram G. Rajan

Katherine Dusak Miller Distinguished Service Professor of Finance

Raghuram G. Rajan was the 23rd governor of the Reserve Bank of India from September 2013 to September 2016. Between 2003 and 2006, he was the chief economist and director of research at the International Monetary Fund. Rajan’s research interests are in banking, corporate finance, and economic development, especially the role played by finance.

Raghuram G. Rajan

Moderator

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Kathleen Hays

Global Economics and Policy Editor for Bloomberg Television and Radio

Kathleen Hays covers the global economy and central banks and the policymakers who run them. Recognized as one of the top economics reporters and anchors in the country, she has covered the US economy and the Federal Reserve for more than 30 years and recently broadened her coverage to Europe and Asia. Hays can be seen and heard on “Bloomberg Daybreak Asia,” “Bloomberg Asia Markets,” and on Bloomberg Radio’s “Bloomberg Markets P.M.”

Kathleen Hays