Three economic themes for 2023

"We've seen one of the fastest accelerations in inflation in multi decades, to say the least. And of course, that's been met with one of the fastest paces of rate hikes through various developed markets that we've seen in decades. "On our financial conditions index, we've actually seen a pace of tightening that's on par with the 2008 financial crisis. Now, we don't think things will be similar to the 2008 financial crisis in terms of a deep recession. But we do think modest recession is still the appropriate outlook given that level of policy response that we've seen." Follow the link to...