Citi official discusses worsening supply chain issues at the 2022 World Economic Forum

Global Head of Citi’s Public Sector Group Julie Monaco discusses how COVID and the war in Ukraine have contributed to global supply shortages at the 2022 World Economic Forum in Davos, Switzerland.

Video transcript

JULIE MONACO: Last year, at this time, everybody was talking about transitory inflation because the assumption was there was going to be-- there was pent-up demand, right? And that when the supply chains readjusted, that there was going to-- eventually, the inflation was going to come down. Now, we have a huge supply shock with what's going on with the war. So that exasperated things. We have to remind people all the time this pandemic is not over. And certainly, in China, it's very disruptive to the supply chains.

So there certainly is-- there is a view that the inflation is very supply chain oriented, but there's also that view that maybe developed countries should have moved faster in terms of the monetary actions. And that now, because of the inflation, is the highest it's been in 40 years in a lot of countries, that it's going to require very strong action.