Bonds & Stocks
Stocks crept higher as traders prepared for a week packed with interest-rate decisions from major central banks. The S&P 500 advanced further into bull-market territory amid bets on a Federal Reserve pause after 10 straight rate hikes.
Economy
Federal Reserve officials are rethinking their view that wage gains are fueling inflation, a key intellectual shift that bolsters the case for a pause in their tightening campaign this week. Until recently, many top policymakers at the US central bank maintained that the road to lower inflation ran through the job market.
World
President Vladimir Putin's invasion of Ukraine has cost Russia tens of billions of dollars as sanctions squeeze its economy and government revenue slumps. Now with the conflict crossing into Russian territory, the price of war is likely to grow even further. The damage pales in comparison to the enormous loss of life and economic devastation that Russia has inflicted upon Ukraine. Still, an outbreak of full-scale hostilities in regions bordering Ukraine may cut Russia's already meager growth forecast to 0.8% in 2023, according to Bloomberg Economics estimates.