Chartbook 127 - The World Bank's global take on the 1970s, stagflation and debt crises.
adamtooze.substack.com
This week the World Bank announced that it is slashing its forecast for 2022 global growth to 2.9%, down from 5.7% in 2021. This is the sharpest deceleration in a post-recession recovery in 80 years. The baseline scenario projects a slight re-acceleration 2023, but in the event of a severe Fed tightening, an energy embargo triggered by the war and continuing COVID issues in China, that number could fall to as low as 1.5 percent.
Chartbook 127 - The World Bank's global take on the 1970s, stagflation and debt crises.
Chartbook 127 - The World Bank's global take…
Chartbook 127 - The World Bank's global take on the 1970s, stagflation and debt crises.
This week the World Bank announced that it is slashing its forecast for 2022 global growth to 2.9%, down from 5.7% in 2021. This is the sharpest deceleration in a post-recession recovery in 80 years. The baseline scenario projects a slight re-acceleration 2023, but in the event of a severe Fed tightening, an energy embargo triggered by the war and continuing COVID issues in China, that number could fall to as low as 1.5 percent.