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US consumers will drive demand with low household debts

Tong Kooi Ong and Asia Analytica
Tong Kooi Ong and Asia Analytica5/5/2022 06:13 PM GMT+08  • 10 min read
US consumers will drive demand with low household debts
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Fact: Inflation is at the highest levels in four decades and likely to remain higher for longer.

Inflationary pressures are building up to be far stronger and more persistent than what the world has gotten used to — and perhaps taken for granted for the past 40 years — first triggered by the Covid-19 pandemic and now, compounded by the war in Ukraine. While commodity prices appear to be stabilising, the higher costs are only just beginning to filter through the global economy.

Fact: Interest rates are rising and have a lot of catching up to do from historic low levels.

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