The latest data continue to show encouraging resilience to the headwinds weighing on growth in 1H22. Strong labor markets are supporting consumers while factory output is humming along outside of China and Russia. Although the downside risks remain material for the near-term, the medium-run risk is shifting to a 2H22 rebound with upside inflation pressures that require more central bank normalization than currently expected.

Speakers:

Bruce Kasman

Joseph Lupton

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