Asian shares rise, as investors keep eye on Ukraine, higher energy costs

raising interest rates will have zero impact on this war-driven inflation wave,” he said.

Hold up, the inflation wave started long before Putin started his war…

The war is having some impact for sure, and that should be taken into consideration, but to suggest that interest rates should not go up because of the war and its effects risks ongoing high inflation levels that strikes the poor the hardest.

This is a mess in large part created by emergency coronavirus policies that persisted looooong after the crisis peaked.

If I was a Japanese rice farmer and wheat prices were expected to go through the roof, I would consider growing wheat instead of rice this year.