From Jenna Orkin
US and Russian Physicians Warn War in Ukraine Risks Global Nuclear 'Catastrophe'
Top economist Mohamed El-Erian said the Federal Reserve won't be able to tighten monetary policy as aggressively now that Russia has invaded Ukraine.
Many on Wall Street expected several Fed rate hikes in 2022, starting with an increase of 50 basis points next month. Earlier this week, JPMorgan even predicted nine interest rate hikes this year of 25 basis points each time.
"This takes 50 basis points completely off the table," El-Erian told CNBC Thursday morning. "It takes the 8, 9 hikes a lot of people were talking about for this year off the table, and thankfully so... I didn't think the US economy could accommodate and live with such slamming of the brakes of monetary policy."
Over 5 Million Children Lost Caregivers to the Virus, Study Says
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Oil keeps $100 a barrel in focus after Russia's energy exports escape Joe Biden's sanctions
Biden hasn't yet placed any restrictions on Russian energy exports, so traders are questioning the impact of the West's sanctions.
Ukraine accuses Russian soldiers of stealing uniforms and vehicles to enter Kyiv
Russian gas flows to Europe via Ukraine reportedly jumped nearly 40% on Thursday, underscoring the continent's dependence on Putin's energy
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Russia's richest 22 billionaires have lost $39 billion in one day after the invasion of Ukraine
Ukraine says radiation levels around Chernobyl are increasing after Russia captured it
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