Macro Briefing: 3 March 2022

* Fed Chair Powell says rate hikes coming, but Ukraine creates uncertainty
* First major Ukrainian city ‘fallen’ to Russian troops
* More than 1 million people flee Ukraine after Russia’s invasion
* The West’s reaction to Ukraine war could cripple Russia’s economy, say analysts
* Commodity prices soar — S&P GSCI index at highest level since 2008
* MSCI pulls Russian stocks from emerging markets indices
* China Composite PMI shows economic growth was “muted” in February.
* Is eastern Europe at risk from Russia?
* US companies continued to hire workers at a strong pace in February: