Recently, Turkiye has raised its inflation expectations and cut that of economic growth, as it seeks to take a more orthodox and realistic policy path.

In 8 minutes, U.S. central bank chief, Jerome Powell struck fear in the hearts of many investors around the globe, who worry what these comments may mean for September’s Federal Open Market Committee meeting.

Big banks, prominent economists and former officials are all saying that a downturn is a near certainty as the Federal Reserve wrestles inflation under control.