Macro Briefing: 17 March 2022

* West says Russia becoming bogged down in Ukraine war
* Fed raises its benchmark interest rate 1/4 point–first hike since 2018
* Fed Chair Powell says recession risk is “not particularly elevated,” but…
* Some economists predict the Fed will cause a recession
* Russia is seizing hundreds of commercial jets owned by US and European firms
* Import prices for US rose 10.9% over past year, feeding into high inflation
* US homebuilder sentiment slips in March, fourth straight monthly decline
* Atlanta Fed business inflation expectations continue rising in March
* US retail sales rose less than expected in February as inflation heats up: