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29.05 - 15:25
High Inflation, Slowing Growth Raise Risk of Global Downturn
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The global economy is in danger of entering a period of high inflation and weak growth, policy makers and corporate leaders say, raising the specter of a period of so-called stagflation that eroded living standards around the world.
Treasury Secretary Janet Yellen on Wednesday became the latest leader to warn of turbulence for the global economy. “Certainly the economic outlook globally is challenging and uncertain,” Ms. Yellen said in Bonn, Germany, ahead of a meeting of leaders of seven wealthy nations. “Higher food and energy prices are having stagflationary effects, namely, depressing output and spending and raising inflation all around the world.”
Read more on wsj.comAbout this in other media
Fed Minutes Show Urgency for Raising Rates to Tame High Inflation wsj.com /2 years ago
Rishi Sunak announces cost of living measures – key points at a glance theguardian.com /2 years ago
‘I’m never going back’: the high-profile Russian defectors rejecting war theguardian.com /2 years ago
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