IMF Director Kristalina Georgieva warned the global economy faces the 'biggest test since the Second World War' as it confronts a 'potential confluence of calamities.'
Stifel's chief equity strategist Barry Bannister says he doesn't expect a recession in the U.S., arguing that, though markets experienced a 'deep correction,' he believes it will level out.is rapidly darkening as it confronts crisis after crisis, according to International Monetary Fund Director Kristalina Georgieva.
She warned that geopolitical disintegration among nations could also have enormous global costs, hurting people across the socioeconomic spectrum. Technological fragmentation alone could shave 5% off of many nations' economies. The Washington-based institution already slashed its economic outlook this year, projecting that global domestic gross product will grow by 3.6% in 2022 – a 0.8 percentage point drop from its January estimate. On top of that, the IMF expects global inflation to remain elevated as a result of the Ukraine war.
As a result, the Federal Reserve is moving aggressively to tighten monetary policy: The U.S. central bank raised interest rates by a half-basis point in May and has signaled that similarly sized hikes are on the table at future meetings.recently pledged that officials will "keep pushing" until inflation falls closer to the Fed's 2% target.
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