Singapore’s president cites global ‘mistakes’ as inflation worries World Economic Forum

Global inflation has yet to die and advanced economies outside China cannot be complacent at a time of fickle consumers and trade tensions, according to the last Davos panel of 2025.

“Most of the body of the genie is in the bottle, kind of getting stuck there,” the IMF managing director said. “But the legs are kind of hanging still out. We need to push it all the way down.”

That contrasts with the cautious optimism that featured during last year’s Davos finale, where participants exuded nervousness at the possibility of a Trump comeback but did wonder aloud if the global inflation shock may fade. Fink isn’t convinced.

“I believe the bond market is indicating that inflation may be higher than we think,” he said Friday. “The genie may be coming out of the bottle.”