US central bank raises interest rates, warns of impact from Ukraine war
21 March 2022 | 10:08 am
The United States Federal Reserve has raised interest rates for the first time since 2018, as it tries to cool inflation, which is running at the highest level in 40 years. The Chair of the central bank, Jerome Powell, said the implications of the Russian invasion were "highly uncertain", pointing to the risk of disruption to supply chains. Also today, we look at details of the French government's plan to ease the economic impact of the war in Ukraine.
A US House committee says former President Trump engaged in a "criminal conspiracy." The claim outlined an attempt to prevent the certification of Biden's win.
The US, EU and their allies have been announcing measures designed to isolate and weaken the Russian economy. Since 2014, Vladimir Putin has been taking pre-emptive steps to protect the economy from future sanctions. But Brian O'Toole, a former US Treasury official and senior fellow at the Atlantic Council, says that in the face of Western sanctions, "Fortress Russia is gone."
Solidarity for Ukraine was front and centre during US President Joe Biden's State of the Union address this week. Biden reiterated that American troops will not fight in Ukraine, but warned that NATO territory would be defended. He also announced that US airspace would be closed to Russian planes and warned oligarchs that their assets would be seized. To find out more about the effectiveness of such sanctions, we speak to Daniel Tannebaum, who's Global Head of Sanctions at Oliver Wyman and a former compliance officer with the Office of Foreign Assets Control at the US Treasury Department.
The invasion of Ukraine by the Russian military has spurred Europe’s worst security crisis in decades. But while most analyses are currently looking at how the war will end, here are most likely easy immediate ways to solve the situation.
In a nonofficial visit to Taiwan, former US diplomat Mike Pompeo said Washington should take steps to recognize Taiwan as a sovereign nation. China described his comments as "nonsense."
US Secretary of State Antony Blinken has praised Poland for its "vital work" in responding to a migration crisis triggered by Russia's invasion of Ukraine.
US Secretary of State Antony Blinken has said Moldova "deserves the world's gratitude" for welcoming Ukrainians. He also vowed support for the country's sovereignty due to fears that it could be Russia's next target.
Sanctions on Russia won't work unless the world reduces its use of Russian oil and gas. But it's difficult to do this without also increasing prices. Middle Eastern oil producers could help. But do they want to?
The US will stop importing oil and natural gas from Russia, US President Joe Biden has said as the West escalates sanctions against Moscow over the Ukraine invasion.
In an interview with FRANCE 24 on Monday, former US national security adviser and retired lieutenant general Herbert Raymond McMaster said that Ukraine can win the war with Russia, remarking that President Vladimir Putin had already lost the conflict in a sense by not winning outright.
US Secretary of Defense Lloyd Austin told the Polish minister of defense that the US does not support the transfer of MiG-29 fighter jets to the Ukrainian air force "at this time," Pentagon press secretary John Kirby said, either by Poland transferring them to Ukraine with the US backfilling Poland's fleet or by Poland transferring the MiG-29s to the US to then give to Ukraine.
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