Macro Briefing: 26 May 2022

* World Bank chief says Russia’s invasion of Ukraine could cause global recession
* Fed officials agreed to raise interest rates quickly, minutes show
* US inflation and economic growth to cool later this year, CBO forecasts
* Two investment banks cut China GDP forecasts for third time this year
* China economic slump doesn’t appear set to bottom in May
* China’s cabinet held an emergency meeting to stabilize economy
* Negative reaction to stocks despite solid earnings may signal bear market
* US durable goods orders rose for second month in April: