Global markets are down as in the 2008 crisis. But the recession is far away

Milan – The alarm bell rang last Thursday, when Federal Reserve Governor Jerome Powell said that “the American central bank is unable to guarantee a” soft landing “of the economy”, in the sense of being able to contain the inflation without triggering a recession. And this warning is scaring the markets. Despite last Friday’s backlash, the FTSE All World Index balance (minus 2.2%) was negative for the sixth week in a row, following in the wake of the S&P 500 Index (minus 2.4% in the last week) and the Nasdaq (minus 2.8%).