MACRO
IMF Chief Georgieva Warns of 'Tough Year' for World Economy
"We expect one-third of the world economy to be in recession," International Monetary Fund Managing Director Kristalina Georgieva told CBS’s 'Face the Nation' in an interview aired Jan. 1.
The IMF already warned in October that more than a third of the global economy will contract and that there is a 25% chance of global GDP growing by less than 2% in 20...

MACRO
Fed Leaders Pledge Tough Fight to Keep Inflation Credibility
Federal Reserve leaders pledged the central bank would continue an aggressive fight to cool an inflation rate that's at a four-decade high, even if higher rates cause the risk of recession. Fed Bank St. Louis President James Bullard said he favors a strategy of "front-loading" big interest-rate hikes, and he wants to end the year at 3.75% to 4%....