Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- The world economy is increasingly succumbing to the <meta itemprop="suid" content="RC3Z2LT0AFB4"><meta itemprop="type" content="StoryLink">threat of stagflation reminiscent of its 1970s ordeal -- a mounting headache for global finance chiefs already navigating the fallout from the war in Ukraine
- Russia’s invasion of Ukraine and China’s Covid Zero lockdowns are the chief reasons why Bloomberg Economics has lopped $1.6 trillion off its <meta itemprop="type" content="StoryLink"><meta itemprop="suid" content="RC435XT0G1L2">forecast for global GDP in 2022
- Treasury Secretary Janet Yellen confirmed it’s unlikely the US will allow Russia to continue making <meta itemprop="suid" content="RC323ZDWLU6D"><meta itemprop="type" content="StoryLink">bond payments on its foreign-currency debt
- Russia’s <meta itemprop="type" content="StoryLink"><meta itemprop="suid" content="RC2Y4KT0AFB5">economic growth slowed in the first quarter, as the initial impact of sanctions over the invasion of Ukraine began to show
- JPMorgan Chase & Co. <meta itemprop="type" content="StoryLink"><meta itemprop="suid" content="RC3J9WT0G1KX">cut its US economic forecasts for this year and next after judging that falling stock prices, higher mortgage rates and a stronger dollar will weigh on the outlook
- The Federal Reserve will be hard-pressed to avoid a downturn and may need to embark on a steeper rate-hike cycle than markets currently expect, according to Bloomberg Economics
- South America’s so-called lithium triangle is in talks over ways to build a greater presence along the <meta itemprop="suid" content="RC3TSNT0G1L1"><meta itemprop="type" content="StoryLink">battery supply chain -- the latest example of nations looking to get more out of the electric-vehicle boom
- Europe’s governments and central bankers are moving toward a mix of <meta itemprop="type" content="StoryLink"><meta itemprop="suid" content="RBEL2AT0G1RK">economic policies that hasn’t been seen since before the global financial crisis
- Chinese banks may <meta itemprop="type" content="StoryLink"><meta itemprop="suid" content="RC23TEDWLU6B">cut their benchmark lending rates for a second time this year, giving consumers and businesses some relief as Covid lockdowns and outbreaks wreak havoc on the economy
- Chinese Prime Minister Li Keqiang told local governments to “act decisively” on <meta itemprop="suid" content="RC49BJT0AFBD"><meta itemprop="type" content="StoryLink">measures to support growth in the coming weeks in an effort to bring the economy back on track as soon as possible
- Finally, check out this week’s <meta itemprop="suid" content="RC3MHJT1UM0W"><meta itemprop="type" content="StoryLink">Stephanomics podcast: Touted as a potential prime minister not long ago, Chancellor of the Exchequer Rishi Sunak’s star has been falling fast of late