The ruble hit a 17-month low against the dollar Monday, highlighting the growing squeeze on Russia’s economy from Western sanctions and a slump in export revenues.
After the Federal Reserve raised interest rates in July to the highest level in 22 years, Wall Street’s focus is on whether September will bring another rate hike.
Federal Reserve officials meet next month to determine whether to raise interest rates for the 12th time to cool the economy or hold them steady. Some officials think the Fed has already raised its benchmark lending rate enough to curb inflation, but others think it’s too soon to tap the brakes.
The Biden administration on Wednesday took action against the regime of Alexander Lukashenko to mark the third anniversary of the fraudulent election in Belarus and the strongman leader’s brutal crackdown on protesters.