Surging Oil Prices Could Spark A Global Recession

The already month-long Russian war in Ukraine has upended analyst outlooks of the global economy this year. Forecasts quickly shifted from a robust post-COVID rebound to rising chances of a full-blown global recession due to spiking energy prices, broken supply chains, and tight global oil supplies. Economists, analysts, and famed investors say the odds of a recession have been rising, considering the runaway inflation, which the Fed and other central banks have already started to try to curb with interest rate hikes.  Despite the fact that…