Global Economy on Edge | Philadelphia News

Philadelphia News Today | 2 Min News | The Daily News Now! · Jul 6, 2026 · 1m

The global economy is bracing for a slowdown as inflation stubbornly clings to high levels, forcing central banks to hike interest rates — a move that risks triggering recession. Consumers are tightening their belts, businesses are scaling back, and small enterprises are scrambling to cope with rising costs and uncertain demand. Families face tough budget calls, and job security hangs in the balance. Economists are split on whether a mild recession or a soft landing lies ahead, with the war in Eastern Europe and soaring energy prices adding to the uncertainty. The coming months will be…