- As a result of Putin’s folly, we will see energy price inflation from Russian supplies being cut off and food inflation from Ukraine’s “Breadbasket of Europe” being mired in a defensive war with Russia.
- Economic sanctions will be increased, but Russia also has tremendous leverage, due to the fact that Russia supplies natural gas to Europe and up to a million barrels of crude oil per day to the United States.
- Central banks around the world are going to increasingly hit the “pause” button on rate increases.
For further details see:
What's Behind 'Putin's Folly'?