Five Shocks Felt Round the World

A new report from The Conference Board is must-read material for CEOs, other C-suite executives, and corporate directors. It highlights five simultaneous shocks to the global economy from the invasion that could increase inflation in the US by 0.8-2.5% in 2022, lower GDP growth in the US by 0.2-0.6%, and cause wider and more significant supply chain disruptions that many are anticipating.

• Shock 1. Spikes in Brent crude oil price. Oil prices could average US$125/bbl in 2Q 2022 and remain elevated over the course of the next year. The potential for a global Russian oil and gas embargo could produce oil prices north of US$150/bbl.

• Shock 2. A surge in global food and commodity prices given outsized Ukrainian and Russian shares of total glob