Can rate hikes tame inflation? IMF chief Kristalina Georgieva urged global policymakers to take concerted action to avoid a “dangerous ‘new normal,’” as the risks of a worldwide recession are driven higher by repeated economic shocks. In a speech ahead of the fund’s annual meetings next week, the IMF’s managing director said it was critical to “stabilise the global economy by addressing the most immediate challenges” — including rampant inflation.