Global Economic Outlook: Inflation Persists Amid Job Market Strength as War, Policy Uncertainty Continue

• Persistent inflation and a still-strong job market underscoring the Fed's hesitance to cut interest rates

• Euro area economy limping along; speculation building in Japan about first rate hike in over a decade

• Ukrainian drone attacks on Russian oil refineries amid ongoing war

• Declining foreign investment in China and US concerns about Chinese shipbuilding subsidies

• Mixed economic signs from consumer spending and inflation data in the US; Biden administration offers loan to develop large Nevada lithium deposit