On the eve of next week’s annual meetings of the International Monetary Fund (IMF) and the World Bank, the world is being confronted with a perfect storm of deepening stagflation with very high risks of a global recession and financial crises. The COVID-19 pandemic and Russia’s war against Ukraine have …

Shortly after Russian President Vladimir Putin’s pomp-filled ceremony in a gilded Kremlin hall to mark the illegal annexation of occupied Ukrainian territory, his counterpart in Kyiv responded with his own bold gamble: Ukrainian President Volodymyr Zelenskyy announced that his country would apply for fast-track membership to NATO. Prior to Putin’s …

On Wednesday, the oil-producing cartel OPEC+, a group that includes Persian Gulf countries and Russia, agreed to reduce production by two million barrels per day in order to keep prices high amid concerns about a recession. The news sparked a strong backlash from the United States—particularly after US President Joe …