The boundaries of traditional fiscal and monetary policy orthodoxy have been redefined in recent years. With many experts believing the shift is a permanent new normal, investors are in unfamiliar territory for evaluating systemic risks. How will challenges such as inflation, commodity shortages, excessive global debt, rising interest rates, climate change and global armed-conflict change the equation, and can these problems be resolved without serious systemic shocks? What steps should investors, policymakers, and regulators take now to prepare for systemic challenges and improve the structural resiliency of capital markets?
