“Inflation is going to remain high because commodity prices are going to remain high this year,” said Roubini. Factors such as a worsening of the Russia-Ukraine war and growing Chinese demand for commodities amid a return to growth will fuel inflation, he added.
Economist Nouriel Roubini warned that the global economy is at risk of a “hard landing” due to central bank efforts to gain control over persistently high inflation in advanced economies.
Central banks will have to raise interest rates much higher than originally expected to bring inflation back down to targets, Roubini said Tuesday at a business summit held by the Australian Financial Review.
