Key feed and food prices have been pulled to 9-month and 7-year highs We explore the ‘dream’ of Biblical scarcity; its origins and impacts; and draw comparisons with Joseph, the trader and central planner who avoided starvation for ancient Egypt One point is clear: global food insecurity falls heaviest on lower-income, importing nations, who spend a far greater share of their income on food than richer ones The Fed would play an ironic role in this process even as it embraces fighting poverty and inequality alongside inflation. This could exacerbate (geo)political risk – potentially even regarding institutional architecture
Michael Every, Global Senior Macrostrategist, co-authored this publication.
