US inflation is at a 40-year high. Rising gas prices are one of the indicators of which many Americans are all too acutely aware. There has been an outpouring of support in the United States and around the world for Ukraine. The heroic response to Russia’s invasion by Ukraine's armed forces and civilians, and the determination and resolve of the country’s President, have been inspiring.
But Russia’s political isolation, and the unprecedented economic sanctions the West has levied against Russia have roiled energy markets, and it remains to be seen how long Americans, Europeans and others will be willing to tolerate high prices and further disruption in the supply chain that the war is causing.
Joining Tom now is Rachel Siegel, who covers the Federal Reserve and the economy for the Washington Post.
Rachel Siegel joins us on Zoom from Washington, DC.
