Such fears were elevated on Friday after reports showed business activity unexpectedly contracting across the US and euro-area for the first time in more than two years.
After underestimating the worst inflation outbreak in decades, central banks are now driving their economies headlong toward recession in order to tame prices.
The stark outlook is stoking fears that policy makers will end up overreaching as they push ahead with aggressive interest-rate hikes, just as some now concede they overstimulated through the pandemic recovery.
