"Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added. "He has kind of an old-school cyber-libertarian world view where technology is there to set you free," Maréchal said. "We're seeing really dramatic moves, and it's all really tied to Ukraine right now, and in a secondary way, in terms of interest rates," Octavio Marenzi, CEO of Opimas, told Yahoo Finance Live on Thursday. "This war in Ukraine is going to give the Fed the ammunition, the cover that it needs, to not raise interest rates too quickly. And I think Jay Powell is a very tepid sort of inflation fighter and he's not going to do as much as he needs to do to get that under control. And this seems like an excuse to kick the can further down the road still and not do too much too soon." Official government accounts have also spread fake fact checks. An official Twitter account for the Russia diplomatic mission in Geneva shared a fake debunking video claiming without evidence that "Western and Ukrainian media are creating thousands of fake news on Russia every day." The video, which has amassed almost 30,000 views, offered a "how-to" spot misinformation. Ukrainian forces successfully attacked Russian vehicles in the capital city of Kyiv thanks to a public tip made through the encrypted messaging app Telegram, Ukraine's top law-enforcement agency said on Tuesday.
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