Last week, I wrote that: \u201cTrade wars and the end of U.S. exceptionalism crashed global growth expectations and hopes for lower inflation. Indeed, the OECD has warned that the trade war is taking a significant toll on the global economy, reducing its world growth forecast to 2.3% this year, well below trend and down from 2.9% last year, and to 2.2% in 2026, with a serious downside scenario if retaliatory trade barriers between countries become the norm. Indeed, the footings supporting the thesis that the economy is not entering a recession are weakening…\u00a0\u00bb<\/p>\n
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