Treasurer Jim Chalmers is in Washington DC for meetings with global finance ministers and leaders this week, but before he left yesterday, he gave an update about the challenging economic environment. He says geopolitical instability is causing a “tricky balance of risks in the global economy right now, and indeed in our own economy”. That’s in line with comments from US Federal Reserve boss Jerome Powell who says the US is dealing with persistent inflation that will likely delay any rate cuts. The International Monetary Fund’s latest Global Financial Stability report also points out that although “confidence in a soft landing … is growing”, sticky inflation is an issue globally. Meanwhile, Australia’s biggest trade partner (no points for guessing – it’s China…) has experienced stronger-than-expected growth this year, but analysts say its sluggish economy still has challenges to overcome…