Russia's invasion has amplified six significant evolutions in finance and the global economy.
Its credibility eroded, the central bank appears to have a choice between risking a recession or prolonging inflation.
The central bank dug itself into a hole.
Economics, finance and related policies aren't the main drivers of stock prices now.
The Fed must now judge what constitutes the least harmful option regarding inflation.
Investors were relatively unfazed by the year's two big economic surprises.
Key officials at the U.S. Federal Reserve have finally acknowledged they mischaracterized the inflationary surge.
The Fed chair finally retired a phrase that had become increasingly meaningless.
Policymakers at leading central banks are slowly starting to move away from the narrative of “transitory” inflation.
Policy makers and central bankers are stuck in a mindset from the last crisis and need to alter their thinking.
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