Finance chiefs from the world’s biggest economies lined up to blame Russia for the global inflation wave and sharply deteriorating growth outlook.
While many blame policy makers for failing to spot the inflation surge they’re now fighting and contributing to it with easy money, U.S. Treasury Secretary Janet Yellen set the tone early at the gathering in Bali, Indonesia, saying the Putin regime had used food “as a weapon of war.”
She said that its actions have prompted “a global crisis of food insecurity as prices spiked for food, fertilizer, and fuel.” Half of the run-up in U.S. inflation was due to energy costs, for which Russia bore the blame, she said.
