Macro Briefing: 16 March 2022

* Ukraine’s Zelensky to ask US Congress for more help in speech today
* European leaders travel to Kyiv as Russia bombs the Ukrainian city
* Russia’s foreign minister says there is ‘hope’ for compromise with Ukraine talks
* Russia may default on its debt today as payments are due
* Forecasters raise US recession risk estimates as inflation outlook increases
* Fed funds futures predict a 25-basis-point rate hike for today’s FOMC meeting
* Raskin withdraws her candidacy for Federal Reserve board
* US wholesale inflation eases in February but still up 10% from year ago
* NY Fed Mfg Index shows contraction in March–first decline in nearly two years: