fed

Schroders' three drivers of a US recession

Below expectations

Highest since 1981

$9trn balance sheet

3.5% unemployment

‘More pain ahead’

First hike since 2018

With CPI soaring to four-decade highs, G10 central banks have been struggling to regain their inflation-busting credibility that is being ridiculed by persistently higher data, and which has forced them to throw “transitory” out the window.

China has introduced digital currency to the Winter Olympics

In a further sign inflation is becoming an endemic issue, the US consumer price index hit 7.5% in January - its highest level since 1982.