ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Debt hampers fight against global inflation: Carmen Reinhart

Top economist warns worldwide recession is 'very likely'

Carmen Reinhart says both the U.S. Federal Reserve and the European Central Bank were late in acting against inflation.   © Reuters

WASHINGTON -- Economic risks posed by high levels of debt could temper central banks' response to inflation, Carmen Reinhart, former chief economist at the World Bank, told Nikkei, outlining the challenges to monetary tightening in the current financial environment.

Reinhart said attempts at a "soft landing," or taming inflation without triggering a recession, have historically rarely succeeded, and the world was "highly likely" to enter into a recession.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more