The Peterson Institute for International Economics (PIIE) holds its semiannual Global Economic Prospects session on April 4, 2018. Karen Dynan presents the US and global economic outlook, including prospects for sustained global expansion over the next few years. Marcus Noland addresses the prospects for economically meaningful conflict over international trade and how an increase in trade barriers could affect both the macroeconomic outlook and financial markets. Jacob Funk Kirkegaard discusses the outlook for wage inflation in advanced economies and the likelihood of a surge in inflation.