News Summary for the week ending 22 May 2022
Fish and chips are among the most common dishes in the UK, which is deeply dependent on imports from Ukraine and Russia. According to NFFF officials, around 40% of the industry's cod and haddock come from Russia, and 50% of its sunfloweroil is from Ukraine.
The UN warns that 49 million people across 43 nations are facing emergency levels of hunger. The UN Secretary-General says the crisis in Ukraine will have lasting implications around the world.
Inflation of global economies since 2020
From the charts above, most major economies are fighting inflation since 2020. Only China is seeing a downward trend for inflation.China continues to record a net inflow of cross-border capital in April 2022.
Recession taunts the market as earnings disappoint. It may not be a taunting as we could well be part of the recession.
Mr Powell signalled on Tuesday that the central bank was likely to follow a 0.5% raise earlier this month, to a range between 0.75% & 1%, with similar moves at meetings in June and July. Until this month, the Fed hadn't raised rates in such intervals since 2000.
Elon has called out a 12 to 18 months long recession as reported by Bloomberg. I am aligned with that. What is the first asset class that will give way significantly? Will it be crypto, real estate, stocks, bonds or others?
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