Leaders warn in Davos about multiple threats to the Global economy

Multiple risks to the global economy topped the list of concerns among the world’s well-heeled on Monday at the annual Davos think-tank, with some predicting a global recession.

The World Economic Forum (WEF) will meet against a backdrop of inflation at its highest level in a generation in major economies including the United States, Britain, and Europe.

Price rises have undermined consumer confidence and shaken the world’s financial markets, prompting central banks to raise interest rates.
The Russia-Ukraine war may well prove to be a tipping point for hyper-globalisation, says IMF chief Kristalina Georgieva. French policymaker Francois Villeroy de Galhau said: “This is the price we accepted together to pay to protect our values”.

The Consumer Price Index shot from near zero two years ago to a 40-year high of 8.5% in March. The Fed responded earlier this month with its largest rate hike in 22 years.
All three major U.S. stock indexes were sharply higher, with a rebound tech and tech-adjacent growth stocks, most notably Apple Inc (AAPL.O) and Microsft Corp (MSFT.O) providing the biggest lift.

This report’s information was first seen on Reuters; to read more, click this link.