fed

First back-to-back hike since 2006

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