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Business Insider: The Newest Nobel-winning Economist Lays Out 2 Reasons the US is 'Really Exposed' to a Financial Crisis

October 19, 2022
financial crisis

Article by Ben Winck in Business Insider

Forecasts of a 2023 recession are worsening, inflation is still historically high, and the labor market is softening.

The last thing the US needs right now is another financial crisis, but two trends leave the country exposed to such a catastrophe, Douglas Diamond, one of the three economists to win the Nobel Memorial Prize in Economic Sciences on Monday, told Insider.

Diamond knows a thing or two about the financial system and its vulnerabilities.

Amid soaring inflation and the Fed's historically intense fight against rising prices, it might not take much for distrust of the financial sector to grow.

"It takes at least somewhat unexpected events to cause a financial crisis, or the type of run where there's enough loss of confidence and ......

To read this article in Business Insider in its entirety, click here.

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