This report is a Q&A of client-identified issues and risks around the economic and financial outlook. There has been plenty to keep us busy this quarter. We begin by addressing how our outlook is shifting in the face of the war in Ukraine, elevated inflation, and more aggressive rate hikes by central banks. We then turn to addressing questions on the evolution of supply chain tensions, the likelihood of stagflation, and the risk that central bank hikes trigger a recession. We close with the implications for the consumer and the housing outlook, and how fiscal policy in Canada could make the Bank of Canada's task more challenging this year.
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