This leading bank made a terrifying prediction that Joe Biden never saw coming

Joe Biden has a cozy relationship with the titans of Wall Street.

But even Wall Street can’t ignore his colossal blunders.

Now this leading bank made a terrifying prediction that he never saw coming.

Joe Biden was gift wrapped an economic recovery from the pandemic by President Trump.

In less than a year he did the unthinkable, sending the economy back to the dark days of Jimmy Carter.

Inflation is running rampant, energy prices are skyrocketing, store shelves are empty, and the stock market is sputtering.

Biden’s economic problems are piling up with no end in sight.

Even worse, Biden refuses to back off his left-wing agenda that tanked that economy in the first place.

Now a top bank made a shocking prediction about a major economic disaster coming.

Deutsche Bank was the first major bank on Wall Street to make a prediction that the Biden economy was headed into a recession.

They predicted that a mild recession was coming within the next two years.

Now they’ve revised that prediction in a new report to their clients.

“We will get a major recession,” Deutsche Bank economists warned.

Their economists wrote a terrifying report entitled, “Why the coming recession will be worse than expected.”

According to the report, inflation has trapped the Federal Reserve between a rock and a hard place.

Inflation is currently at a 40-year high, while the unemployment rate is at its lowest level in years.

To combat inflation, the Fed is beginning a series of interest rate hikes throughout the course of the year.

But Deutsche Bank economists predict that the Fed won’t be able to handle the delicate balancing act of raising interest rates without plunging the economy into a deep recession.

They believe the Fed “much further behind the curve” than the last time they faced a similar situation in the 1980s.

In the ‘80s, the Fed used massive interest rate hikes to reduce inflation but sent the economy into a major recession as a result.

The report states that history shows the Fed has “never been able to correct” high inflation and low unemployment “without pushing the economy into a significant recession.”

But the news got even worse for Biden on the crushing inflation Americans are facing.

“The scourge of inflation has returned and is here to stay,” Deutsche Bank warned.

Aggressively raising interest rates to fight inflation “will push the economy into a significant recession by late next year.”

A major recession on top of the massive economic problems facing the country would spell political doom for Joe Biden and Democrats.

Biden or whoever Democrats ran in 2024 would start out as a massive underdog after four years of economic disasters.

He would be forced to own a major recession that happened under his watch.

With Joe Biden’s economic problems piling up, a major recession could be the end of the line for his failing regime.  

Stay tuned to Conservative Underground News for any updates to this ongoing story.