"The Federal Reserve’s actions over the past year have not only raised interest rates, but have slowed the economy significantly. Naturally, a decaying economy weighs on businesses as sales decline and accounts receivable slow or even default. Perhaps more importantly, business bankruptcies are highly correlated to rising interest rates, and those rates have been on the rise since early 2022. It’s a tough combination, so it’s no surprise that bankruptcies and claims are skyrocketing."
About Dan North
Since 1996, Dan North has been with Allianz Trade, the world’s oldest and largest credit insurance company. As the company’s senior economist for North America, he uses macroeconomic and quantitative analyses to help manage Allianz Trade’ risk portfolio of over $170B in U.S. trade transactions.
As one of the leading U.S. economists, Dan North has appeared on CNBC, Fox Business News, ABC News Now, France 24, and Bloomberg Radio and Television. He has been quoted by USA Today, Barron’s, Bloomberg Business Week, The Washington Post, Paris Le Monde, and The Wall Street Journal. After having predicted the 2008/2009 recession and its implications accurately, Dan North was ranked 4th on Bloomberg’s list of the 65 top economic forecasters in 2010.
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