This is a critical juncture for the global economy in the face of a number of parallel and often related crises. The poly-crisis upon us includes the legacy of COVID-19, war in Europe, a huge energy shock, significant inflation, a global monetary tightening cycle, a strong US dollar, the slowest growth on record for China and global indebtedness—to name a few.
This is to say nothing of the turmoil playing out in financial markets as the decades-long negative correlation between bonds and stocks has reversed so both are tanking simultaneously. As years of cheap money come to an end and the tide of liquidity goes back out, we are starting to discover who is swimming naked. Global debt to GDP already exceeds 300%, but it seems clear countries are going to have to spend a lot more money to address the poly-crisis. In doing so, they will be working against central banks, which will continue to withdraw accommodation in an effort to lean against inflation.
How will fiscal and monetary authorities navigate this without causing a global recession? What will a likely recession look like? And is there any reason to be optimistic about the global economy over the next few years? Join Megan Greene, Senior Fellow at Brown University and Global Chief Economist at Kroll, in a discussion about the global macroeconomic challenges we face in this poly-crisis, the biggest risks and a potential path out of it.
This a hybrid event open to both EUI community members and the general public. Please register to attend, indicating your attendance either online or in person (on a first come, first serve basis).
Speaker: Megan Greene is currently a Global Economist and Senior Fellow at the Watson Institute, Brown University. At Brown, she is teaching and writing a book on how the new economy is driving wealth and income inequality. She is also the Global Chief Economist at Kroll (the largest valuation firm in the world) and the Dame DeAnne Julius Senior Academy Fellow in International Economics at Chatham House in London. She is a contributing editor at the Financial Times, where she writes a regular column on global macroeconomics. She appears regularly on TV and radio outlets such as Bloomberg, CNBC, NPR and BBC. She also serves on the board of directors of the Parliamentary Budget Office in Ireland, Rebuilding Macroeconomics and Econofact. Megan is a Non-Resident Fellow at Trinity College Dublin and is a member of the Council on Foreign Relations and the Bretton Woods Committee. She regularly advises governments and central banks in the US, UK, eurozone and Japan. Megan was previously a Senior Fellow at Harvard Kennedy School, Global Chief Economist at John Hancock/Manulife Asset Management, founder and Chief Economist at Maverick Intelligence, head of European Economics at Roubini Global Economics and the euro crisis expert at the Economist Intelligence Unit. She holds an MSc from Nuffield College, Oxford University and a BA from Princeton University.