As measured by Baker, Bloom and Davis’s Epu. I was in Europe, and Conversations were in High Gear About How Things Now Saemed. And Text Mining Confirms:
Figure 1: US EPU (Blue), Global EPU (GDP Weighted at Market Exchange Rates) (Brown). Orange denotes periods from election to end-Trump administration. Nber denoted peak-to-wedding recession dates shaded gray. Source: policyuncertainty.com, and nber.
Global Epu in January Matches EPU in May 2022.