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Bloomberg/John Authers/2-28-2022
“Following a strange delay after the world assimilated the shock of the Ukraine invasion, it was on Monday that slightly belated international sanctions began to bite. The pain they have inflicted on Russia, its economy and its financial system is immediate.”
USAGOLD note: Authers goes on to note that market hopes that commodity prices had peaked “now appear to have been dashed decisively,” and that the developments over the past week have made the Fed’s determination to restrict inflation all the harder to accomplish.
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