In an attempt to cool down decades-high inflation, the Federal Reserve announced a 0.25% interest rate hike today, likely the beginning of a series. The Fed has its work cut out for it: Fostering sustainable economic growth while tamping down price growth can be a delicate balancing act. And all this amid global supply chain issues, a war raging in Europe and a pandemic that’s not over. On today’s show, we’ll dig into how that balancing act could play out. Plus, how the war in Ukraine is complicating global trade in grain and affecting shipping between China and Europe.

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