🌎 Year in Review: The U.S. dollar soared, crypto imploded, Elon Musk bought Twitter and North Korea fired off missile after missile. It was the year Britain lost a queen, gained a king and saw three prime ministers on Downing Street
By the evening of Feb. 25 this year, a day after Russian tanks had crossed into Ukraine in the largest military attack in Europe since World War Two, Moscow's troops hadWith distant artillery fire booming across the capital, Ukraine's defence ministry urged residents to build petrol bombs to repel the invaders. President Volodymyr Zelenskiy filmed himself with aides on the streets of the city, vowing to defend his country's independence.
The assault never came – and 10 months on, Moscow's "special military operation" is bogged down. In some places, it's. Many in Moscow had expected Russia's military to sweep to victory, oust Zelenskiy's government and install a Russia-friendly regime. It was a similar story in the United States, where Republicans and some pundits had predicted a red wave in midterm elections. The Republican Party won control of the House of Representatives, but victory there was slim with a majority of fewer than 10 seats. The party not only, but lost several gubernatorial races. Democrats triumphed in all three secretary of state contests in presidential battleground states where their Republican rivals had denied the legitimacy of the 2020 elections.
In economics, most of the world's big central banks waited until March to begin ratcheting up interest rates. The European Central Bank did not. Monetary hawks complained that the delay allowed inflation to surge. Will that prove costly in the long term? Can the Fed keep the U.S. economy from recession?
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