Where is the global economy heading in 2023? After all the challenges of last year, it’s a question we ask with trepidation. Just as the economy was dealing with the ongoing effects of the COVID-19 pandemic, Russia’s invasion of Ukraine in February ramped up inflation. The outlook for inflation is highly uncertain. And fears of 1970s-style stagflation – high inflation and stagnant economic growth – could become a reality, writes Steve Schifferes.
View More Global economy 2023: Why central banks face an epic battle against inflation amid political obstacles