The global recovery is experiencing a fading of the supply shocks that damped growth last year but now facing a new resiliency test in the form of Omicron. We expect industry to weather the storm better than services, a view supported so far by the December PMIs, and for the economy as a whole to fare better than prior COVID waves. Central banks are keeping their eyes on normalization, and we now see the Fed hiking in March and beginning balance sheet roll-off in July.

 

Speakers:

Bruce Kasman

Joseph Lupton

This  was recorded on January 7, 2022.

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