Economic Update – “Behind the Curve”

Just as a new year was beginning and the world was able to breathe a collective sigh of relief after the omicron variant, Russia invaded Ukraine in late February, causing irreparable suffering, loss of human life, and erasing 30-plus years of European progress. The shock of war put further stress on global markets that were already experiencing issues from the early effects of rising inflation and tightening monetary policies. Combined with the severe lockdowns in China we are seeing significant shifts in supply chains and rapidly rising prices.

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