This is what happens when the federal reserve adds too much money into the market. They printed trillions during Covid in an effort to fight the pandemic issues which caused inflation. Today we are feeling the effects of the supply chain issues and fuel prices/commodity prices from the last 18 months so no one can spend money, so to fight the inflation the federal reserve drastically increased the interest rates. Most businesses have to borrow money to operate throughout the year and the price of that money has tripled. It takes a while for the full effects of the pandemic decisions to completely trickle down. So yes in a way it has all been fabricated.

And as someone who is on the production side of our nations food supply I will warn you now, buckle up. This year will likely be worse than last.

It seems to be only the case for the companies who really inflated their employee numbers during corona and expected the growth to keep going at the same speed. So there are some reasons that can be pointed out. But not for all of them. Facebook and Google for example indeed have less revenue from their ad businesses etc. But for some companies including microsoft it has been put into question.

In the EU economics state that we just slightly avoid recession, even with the energy crisis going on.