President Biden is expected to reveal new sanctions against Russia today. This is in response to Russia’s leader now recognizing two breakaway areas of Ukraine as independent. He ordered troops to move in, saying they would act as peacekeepers. But during an emergency meeting of United Nations security council members, the U.S. ambassador called that nonsense. She claims Vladimir Putin is again making false claims to justify a war.
While the stock market reopens this morning after the holiday weekend. While the threat of war in Europe will play a big role, traders are also watching the Federal Reserve closely. The central bank’s governor just spoke at a convention and supports a larger rate hike. She says forceful action is necessary to help reduce record-high inflation. The Fed is expected to raise rates several times. Experts predict that will start after a meeting next month.
This is the latest news.
Here’s Mark Mayfield.
