Europe’s troubles may be good for America in the current “perverse situation,” an economist told the paper White House officials believe the effect of a recession in the EU on the US economy would be “modest,” while some economists suggest that it would actually help America, the Washington Post has reported. With the European Central Bank raising interest rates by .75 points last week amid soaring energy prices and spiking inflation, White House aides believe “the growing likelihood of a recession in Europe is unlikely to change under the current trajectory,” the paper wrote on Sunday. However, US officials who t
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