QVML - Will Global Growth Grind To A Halt?

• According to a recent report released by the OECD, the Russian invasion of Ukraine, if prolonged, could knock 1.1 percentage points off the global GDP for 2021, while increasing global inflation by 2.5 percentage points over an already lofty inflation level.
• The damage won’t be so bad in the U.S., but GDP will still be 0.9% lower than the OECD first expected, and inflation will also rise commensurate with global rates, since most commodities trade in terms of U.S. dollars.
• The Fed noted that U.S. household net worth surpassed $150 trillion for the first time, rising 14.4% for 2021 after rising 12.5% in 2020. U.S. GDP also grew at its fastest pace in 37 years in 2021. But stocks have fallen in 2022, so has household wealth peaked?

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