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The global economy’s 2020 hangover is far from over

Mount Equity Group Tokyo, Japan > News > Markets > The global economy’s 2020 hangover is far from over

By Allison Morrow, CNN Business

It’s almost 2022, but 2020 isn’t done with us yet.

Despite good news about Covid-19 vaccinations, a solid economic rebound and seemingly boundless optimism on Wall Street, we’re nowhere near out of the woods.

The global supply chain is a wreck. Europe and Asia are facing a potentially crippling energy shortage. And the US government’s partisan gridlock over the debt ceiling is far from resolved. All of that has the global economy in a vise grip that we won’t be free of anytime soon.

“There’s just as much uncertainty now, today, as there was in March 2020 as the pandemic was unfolding,” said Mike O’Rourke, chief market strategist at Jones Trading. The only difference, he says, is that investors now are swimming in easy money that’s allowed them to shrug off the grim headlines.

Supply chain chaos

The Biden administration is doing what it can. On Wednesday, the…

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