• Ukraine will dominate news cycles in coming days.  Congress not in DC but ready to approve sanctions.
  • Main sanction, blocking order on Russian USD assets, can be done by President with Executive Order.
  • Congress extends current budget talks until March 11 with hope of new spending plan.
  • Senate Banking Committee members talk of plan to confirm Powell and other Board nominees.
  • ·March opens with Powell testimony on monetary policy, rate talk, and FOMC meeting.

The world is focused on Putin’s Made in Russia Ukraine crisis.  Russia has leverage provided by its role in providing oil and gas to Europe, it will be seen in coming days what impact the crisis has on global energy markets. Is diplomacy over to resolve crisis?  Is the support and troops Putin announced for Russian backed separatist states an invasion of Ukraine or a continuation of ongoing policy?

Biden announced sanctions aimed at the separatist states of Donetsk and Luhansk and additional sanctions are expected.  Germany has announced termination of new pipeline. Will US Secretary of State Blinken still meet later this week with Russian Foreign Minister Lavrov?  Many questions but crisis is real and ongoing.

Having worked at JPM and served as a Vice Chair of the State Department’s Advisory Com...

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