At this point it is probably safe to say that Russia’s intent to end the Ukraine fracas in a swift and quick manner has failed. Zelinsky has taken his forces to the streets and forced the Russians into brutal drawnout urban warfare.
Also, the Russians have begun attacking Urkaine energy installations.
This is probably the worst outcome for the entire world. Energy prices are expected to soar, inflation is going to be high, the Fed is forced to act.
Next week, all eyes on Jerome Powell as he testifies before congress. Will high energy prices caused by the war lead the Fed to raise 50bps in march? Will the Fed be forced to hike the global economy into a recession in 2H 2022? All I can say is that buckle up your seatbelts and be prepared.
Little Monkey 