PIIE released its semiannual outlook for the US and global economies. The report, presented by Karen Dynan, focused on high inflation, rising interest rates, and other challenges and discuss where economic conditions are heading in the US and globally.
In a presentation on Europe, Olivier Blanchard compared inflation in the euro area with the United States, outlined the implications for monetary policy, and explained the role of fiscal policy in this context.
Mary E. Lovely discussed China, detailing short-run constraints on the country's use of economic stimulus and its longer-term prospects for debt management and reviving productivity.
A discussion with PIIE president Adam S. Posen followed.