Fed to hike directly into Ukraine crisis

Friday, 25 February 2022

Goldman with the note.

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Russia-Ukraine tensions have pushed a geopolitical risk index1 developed by the Fed staff to a very high level, as shown in Exhibit 1, and are beginning to have a meaningful impact on global financial markets.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.