The “first tranche” of sanctions against Russia is here. Now what?
When paired with inflation and supply chain issues, the economic impacts of U.S. sanctions could amount to a “central banker’s ultimate nightmare,” said Politico’s Sudeep Reddy.
US President Joe Biden speaks in the East Room of the White House about Russian military activity near Ukraine February 22, 2022, in Washington, DC. - The United States said Tuesday that Russia's move into eastern Ukraine amounts to the "beginning of an invasion" and warned that "severe" sanctions would be announced shortly. (Photo by Brendan SMIALOWSKI / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)
While inflation is still high and consumer sentiment has trended low, many people are still spending. Irene Kesselman, owner of the Ali Cat Toys in Carrboro, North Carolina, describes what’s she’s seeing in the store and hearing from suppliers.