A Federal Reserve that had been grappling for months with how to curb inflation without hindering the recovery is now being forced to balance a new complication: war in Ukraine.
The fresh dose of instability sparked by Russia’s invasion of Ukraine this week has all but eliminated the possibility that the central bank moves aggressively next month to tighten monetary policy with a half-point interest rate increase. That step, which just a couple of weeks ago was widely considered a foregone conclusion, is now likely to be a…
