Russia-Ukraine War: The Crude Awakening
- The Russia-Ukraine war has led to higher market volatility. However, the cost of an extended war and severe sanctions are likely to choke Russia's small economy.
- Despite a small economy, Russia has a significant contribution to global commodities, which could add to higher inflation. While this creates a quandary of completing forces of high inflation and a potential slowdown in growth from higher cost, the Federal Reserve (Fed) is likely to remain focused on inflation and begin raising interest rates.
- Historically, geopolitical events have been a humanitarian disaster, but have had a short-lived effect on markets.
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