As war continues in Ukraine, energy and food markets face novel shocks, creating fresh uncertainty as the Fed’s March monetary policy meeting approaches. That in turn is complicating the job of policy-makers in Latin America.

The Federal Open Market Committee’s (FOMC) expectation of making several successive rate hikes followed by asset sales may have come into question. Some experts say the Fed should work more aggressively against the inflation they expect to follow the war’s supply chain