The COVID-19 years are littered with predictions that didn¡¯t work out. For anyone looking ahead into 2022, that should be enough to give pause.
Most forecasters, including Bloomberg Economics, have as their base case a robust recovery with cooling prices and a shift away from emergency monetary-policy settings. What could go wrong? Plenty.
Omicron, sticky inflation, Fed lift-off, China¡¯s Evergrande slump, Taiwan, a run on emerging markets, hard Brexit, a fresh euro crisis, and rising food prices in a tinder-box Middle East ¡ª all these feature in a rogues¡¯ gallery of risks.
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