Comment by andyferris
7 months ago
Fully agreed, but I suspect that was written that way because the Fed was rather more worried about the fact Russia was at war and under western sanctions, than that Ukraine was busy defending itself.
Perhaps "Russia's war" would have been a better phrasing that captures both spirits (but it's not a phrase you hear said much).
You think "Russia's war" captures more of the global relevance than "Russia's invasion of Ukraine"?
For example, Ukraine was a very important food supplier -- one of the top grain suppliers in the World -- and the invasion caused shortages of some foods. Another example is that Ukraine provided a good source of iron ore for EU-based manufacture. If nothing else that would be important to USAmericans as indicating a market opportunity.
Without that invasion and Putin's inspiration, would Trump have threatened invasion of USA's neighbours? That's got to be vital to USA finances too.