Fed Chair Jay Powell and other Fed officials struck a more hawkish stance this past week, setting off a new debate across Wall Street about how the rest of 2024 could play out.
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The steering committee for both International Monetary Fund and the World Bank on Saturday emphasized the need for broader accountability as the institutions implemented reforms to help countries grapple with climate change and other shocks. "We must hold ourselves accountable more broadly as we become a better and bigger bank," said Mohammed bin Hadi Al Husseini, the United Arab Emirates' minister of state for finance, who heads the joint Development Committee this year. Al Husseini issued a chair's statement, rather than a communique, amid disagreements over wars in the Middle East and Ukraine, but referenced economic risks posed by the conflicts.
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