Putin Loses War

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In-Brief

• Putin has all but lost his war in Ukraine.
• President Biden has essentially killed the Green New Deal in the US.
• The Russian aggression against Ukraine is having a huge and varied impact across the globe. Regardless of how the war ends, the so-called World Order is going to look quite different.
• The US and Europe have responded very strongly. The West’s reactions have been and will be political, financial, and economic, and are devastating for Russia and its oligarchs. Biden was strong in early diplomacy and is now stepping into the lead again, but is making too many damaging political gaffes.
• The US economy continues to be strong, as is its job market.
• World inflation is getting materially worse because of the war.
• High inflation badly hurts tens of millions of American families.