Central bankers are tightening the U.S. economy amid historic inflation pressures. Meanwhile, the shock of war in Ukraine is slowing global growth. These factors raise the threat of a return to stagflation. Over the decade, Americans could see persistent price increases unless the central bank lifts rates to help curtail them. Federal Reserve Chair Jerome Powell has called for a swift return to neutral interest rates to calm markets. Can the Fed stick a soft landing? Only time will tell.
James McCormack of the credit ratings agency says Sri Lanka has had "a lot of IMF programs … but they've never had a debt restructuring, so this one definitely is different."
Carlos Casanova of Union Bancaire Privee warns the worst months for activity in China activity may be ahead, though the firm maintains its average economic growth forecast for the country at 5.0% for 2022.
Pierre-Olivier Gourinchas, the International Monetary Fund's new chief economist, joins 'Squawk on the Street' to discuss how much the war in Ukraine will weigh on global economic output. Gourinchas explains why he believes the U.S. economy can grow more than 3% this year and more.
'Mad Money' host Jim Cramer and the 'Squawk on the Street' team discuss new warnings to the global economy from the International Monetary Fund.