- Russia's war with Ukraine and recent lockdowns in mainland China have further disrupted supply chains, adding to cost pressures.
- The US Federal Reserve raised its policy rate by 75 basis points at its mid-June meeting and signaled its determination to return inflation to 2%, acknowledging it expects unemployment to increase.
- The persistence of high inflation is prompting central banks to tighten policies more aggressively to cool demand amid ongoing supply disruptions.
For further details see:
The Global Economic Climate Is Shifting, As Fighting Inflation Gains Urgency