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Talk of stagflation becomes more common - March 9, 2022
Investment banks are lowering their forecasts for global growth and raising expectations for consumer prices, making talk of potential stagflation more mainstream. U.S. and U.K. decisions on Tuesday to ban Russian energy imports sent oil prices surging, compounding already-rising commodity prices due to uncertainty in the region.
The global food crisis sparked by Russia’s invasion of Ukraine is worsening as more countries move to keep vital food supplies within their borders. Indonesia tightened curbs on palm oil exports Wednesday, contributing to price hikes as the world struggles to recover from the economic fallout of the pandemic and reduced wheat supply due to droughts. Russia and Ukraine account for a quarter of the global grain trade, and Russia is also a key supplier of the world’s fertilizers.
Producers of basic necessities must face tough decisions over whether to join other multinational companies that faced pressure to close their operations in Russia. McDonald’s, Starbucks, Coke and Pepsi have joined the exodus of companies suspending their business in protest of Russia’s invasion, but the makers of supplies such as diapers and soap say they feel compelled to continue to provide necessities. Procter and Gamble and Unilever said this week they will end any new capital investments in Russia and are no longer advertising in the country.
House lawmakers released a $1.5 trillion government package early Wednesday to fund the federal government for the 2022 fiscal year and send further military and humanitarian assistance to Ukraine. The bipartisan package, expected to be passed by the House Wednesday and voted on by the Senate within the week, includes the biggest increase to nondefense discretionary spending in four years and a total of $13.6 billion to boost assistance to Ukraine.
Florida’s state lawmakers on Tuesday passed the controversial “Don’t Say Gay” bill, sending the legislation to the governor’s desk for approval despite outcry from LGBTQ advocates that the bill is discriminatory. The Walt Disney Company has faced backlash for funding legislators who sponsored the bill, prompting the company’s CEO to send a memo promising “unwavering support” for the company’s LGBTQ+ community.
CONTENT FACTS.
https://turbinelabs.com/ (Turbine Labs) has tracked 23,074 media articles and blogs and 43,149 social media posts over the last 24 hours.
The next Turbine Labs https://turbinelabs.com/future-of-work-briefing/ (Leadership briefing) will be delivered on Thursday, March 10, at 9:30AM ET.
Questions or feedback? Don't hesitate to https://turbinelabs.com/contact-us/ (reach out) to us directly.
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By Turbine LabsInvestment banks are lowering their forecasts for global growth and raising expectations for consumer prices, making talk of potential stagflation more mainstream. U.S. and U.K. decisions on Tuesday to ban Russian energy imports sent oil prices surging, compounding already-rising commodity prices due to uncertainty in the region.
The global food crisis sparked by Russia’s invasion of Ukraine is worsening as more countries move to keep vital food supplies within their borders. Indonesia tightened curbs on palm oil exports Wednesday, contributing to price hikes as the world struggles to recover from the economic fallout of the pandemic and reduced wheat supply due to droughts. Russia and Ukraine account for a quarter of the global grain trade, and Russia is also a key supplier of the world’s fertilizers.
Producers of basic necessities must face tough decisions over whether to join other multinational companies that faced pressure to close their operations in Russia. McDonald’s, Starbucks, Coke and Pepsi have joined the exodus of companies suspending their business in protest of Russia’s invasion, but the makers of supplies such as diapers and soap say they feel compelled to continue to provide necessities. Procter and Gamble and Unilever said this week they will end any new capital investments in Russia and are no longer advertising in the country.
House lawmakers released a $1.5 trillion government package early Wednesday to fund the federal government for the 2022 fiscal year and send further military and humanitarian assistance to Ukraine. The bipartisan package, expected to be passed by the House Wednesday and voted on by the Senate within the week, includes the biggest increase to nondefense discretionary spending in four years and a total of $13.6 billion to boost assistance to Ukraine.
Florida’s state lawmakers on Tuesday passed the controversial “Don’t Say Gay” bill, sending the legislation to the governor’s desk for approval despite outcry from LGBTQ advocates that the bill is discriminatory. The Walt Disney Company has faced backlash for funding legislators who sponsored the bill, prompting the company’s CEO to send a memo promising “unwavering support” for the company’s LGBTQ+ community.
CONTENT FACTS.
https://turbinelabs.com/ (Turbine Labs) has tracked 23,074 media articles and blogs and 43,149 social media posts over the last 24 hours.
The next Turbine Labs https://turbinelabs.com/future-of-work-briefing/ (Leadership briefing) will be delivered on Thursday, March 10, at 9:30AM ET.
Questions or feedback? Don't hesitate to https://turbinelabs.com/contact-us/ (reach out) to us directly.