War in Ukraine: the serious consequences of the conflict

Stagflation: War in Ukraine sends prices soaring and seriously slows economic recovery

Half a century later, a new oil shock? Confused by Russia’s attack on Ukraine, economists are reviewing their copy every day, as oil and commodity prices soar. At nearly $140 a barrel of Brent on March 7, no one had expected such a sudden slip. No more than the announcement, the next day, of the cessation of Russian oil imports by the United States. The specter of stagflation, a bitter mixture of high inflation and moribund growth, has returned to haunt people’s minds. “…