Despite an onslaught of supply shocks, the global expansion looks to have continued through July. Risks remain elevated, as the July global PMIs this week showed a concerning loss of momentum across sectors and regions—including Asia. However, a huge upside surprise in US job gains suggests employers continue to expand. With recession risks having faded some and headline inflation set to slow sharply, the focus is now on how aggressive central banks will need to act to remove underlying price pressures.

Speakers:

Bruce Kasman

Joseph Lupton

This podcast was recorded on August 5, 2022.

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