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The news also helped traders look past another report showing decades-high inflation and shake off some of the volatility from recent sessions. The Bureau of Labor Statistics' February Consumer Price Index (CPI) this week showed another surge in prices even before Russia escalated its attacks in Ukraine. The headline CPI — soaring 7.9% over last year — underscored the sticky inflationary pressures reverberating across the U.S. economy, with everything from groceries to rents and airline fares getting more expensive for everyday consumers. Multiple pro-Kremlin media figures circulated the post's false claims, including prominent Russian journalist Vladimir Soloviev and the state-controlled Russian outlet RT, according to the DFR Lab's report. As the war in Ukraine rages, the messaging app Telegram has emerged as the go-to place for unfiltered live war updates for both Ukrainian refugees and increasingly isolated Russians alike. "The inflation fire was already hot and now with war-driven inflation added to the mix, it will grow even hotter, setting off a scramble by the world’s central banks to pull back their stimulus earlier than expected," Chris Rupkey, chief economist at FWDBONDS, wrote in an email. "A spike in inflation rates has preceded economic recessions historically and this time prices have soared to levels that once again pose a threat to growth." Ukrainian President Volodymyr Zelensky said in a video message on Tuesday that Ukrainian forces "destroy the invaders wherever we can."
from KR