Like a tug of war, two opposing forces are pulling global economic activity: Which ones are they? And which will prevail? The inflationary pressures are they really subsiding? The shortage of workers will it continue to support wage growth in advanced countries? Or the logic of the will prevail again relocation globalizing? And how is he doing the Italian economy, who until before the pandemic was the Cinderella of Europe, due to her limited ability to grow? What variables are driving it and where do they draw strength from? The controversy about PNRR does it have any basis? The prices of raw materials, energy and otherwise, struggle not to slip downwards: do they follow or anticipate cyclical changes? Will central banks take a break from raising interest rates? Will it be short or will it last? THE exchange rates show greater dollar strength: why? And the Bags, after the long run from the lows of 2022 have they reached a ceiling?
The hands of the economy
These and other questions haunt entrepreneurs and savers, bankers and portfolio managers, because we are living through one of the most turbulent and uncertain times in living memory, as Stan Druckenmiller, one of the most successful financial wealth managers of the last half, always reminds us. century (also managed part of George Soros' estate). They answer these and other questions the hands of the economy, the monthly analysis column of the economic situation, with an attentive eye to structural changes, which has been edited for more than a third of a century by Fabrizio Galimberti and Luca Paolazzi. The Hands of June 2023 starting tomorrow only on FIRSTonline.
