Analysis Say U.S. Inflation Will Explode If Russia Invades Ukraine

CNN: Exclusive: Russia-Ukraine conflict could cause inflation to hit 10%, new analysis finds

New York (CNN Business)The cost of living is already very high in America. The Russia-Ukraine crisis could make it even worse.

Oil prices have jumped well above $90 a barrel in recent weeks as the risk of a Russian invasion has increased.

If the Russia-Ukraine crisis drives oil to about $110 a barrel, inflation in the United States would exceed 10% on a year-over-year basis, according to a new analysis by RSM shared exclusively with CNN.

The US economy hasn't experienced 10% inflation since October 1981, according to government statistics.

"We're talking about a real short-term shock," said Joe Brusuelas, chief economist at RSM.

Read more ....

Update #1: Here’s how much US inflation would rise if Russia invaded Ukraine (NYPost)

Update #2: How a Russia-Ukraine conflict could impact the economy and markets (Nicholas Sargen, The Hill)

WNU Editor: Even President Biden is jumping on the band-wagon that a Russian invasion of Ukraine will cause economic harms on Americans .... You’re going to feel this, Biden tells Americans, as Ukraine war looms (The Guardian).

So typical of politicians. Better to blame someone else for your disastrous policies rather than yourself.

from War News Updates https://ift.tt/BMYyWhr
via IFTTT

Comments

Is Putin's Inner Circle Already In Discussions On Who Is Going To Replace Him?

Russian President Vladimir Putin leads a meeting on economic issues in Moscow on Monday. (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP) Daily Beast: Putin’s Own Men Are Already Discussing Who Will Replace Him Three months into Vladimir Putin’s bloody “special operation” in Ukraine, his own men in the Kremlin are reportedly discussing who will replace him. That’s according to new reporting by the independent news outlet Meduza, which cited several sources close to the Russian presidential administration who said officials are increasingly fed up with Putin personally. Some of Putin’s own allies within the Kremlin walls have reportedly floated the idea of Moscow Mayor Sergei Sobyanin becoming his successor, or former President Dmitry Medvedev, who is now the deputy chairman of the Security Council. Sergei Kirienko, the first deputy chief of staff of the presidential administration, was also said to have been discussed as a contender. Read more .... Update: Krem

US And Russian Chiefs Of Staff Discuss Ukraine In Rare Phone Call

U.S. Chairman of the Joint Chiefs of Staff Gen. Mark Milley (left) and his Russian counterpart Valery Gerasimov (file photo) The Hill: Milley speaks with Russian counterpart for first time since start of war Chairman of the Joint Chiefs of Staff Gen. Mark Milley spoke with his Russian counterpart on Thursday, the first such conversation between the two since the Kremlin’s invasion of Ukraine began in late February, according to the Pentagon. Milley spoke by phone with Valery Gerasimov, chief of the Russian general staff, and they “discussed several security-related issues of concern and agreed to keep the lines of communication open,” Joint Staff spokesperson Col. Dave Butler said in a readout of the conversation. The Pentagon did not provide further information on the conversation. Read more .... WNU Editor: So much for the reports last week that Chief of the General Staff of the Armed Forces of Russia Valery Gerasimov was fired by Putin last week .... Putin rumor

US Secretary Of State Blinken Says China Is A Greater Long Term Threat Than Russia

Daily Mail : 'US does NOT support Taiwan independence': Blinken cleans up Biden's comments in speech saying America doesn't want 'another Cold War' with Beijing and slamming Xi Jinping for cooperating with Putin and being more 'aggressive' abroad * Sec. of State Antony Blinken issued a stark warning Thursday about China's rise * Said Beijing's cooperation with Putin 'raises alarm bells' after Ukraine invasion * Claims Xi Jinping is now 'more repressive at home and more aggressive abroad' * Cleaned up Biden's Taiwan comments by saying US doesn't back independence * Insisted U.S. Taiwan policy has not changed in decades, but he did warn against China trying to undermine the status quo Sec. of State Antony Blinken issued a stark warning Thursday morning that the threat of China will 'test U.S. diplomacy like nothing we've ever seen before' - but insisted America does not want another Cold War and do

MTQ News

Search This Blog