It was a complete coincidence, they had been telegraphing rate hikes for months, long before Russia invaded Ukraine. The rate hikes came sooner than expected, p

It was a complete coincidence, they had been telegraphing rate hikes for months, long before Russia invaded Ukraine. The rate hikes came sooner than expected, part of that was from food and energy prices going up as a result of the war, but oil and grain prices have fallen from their peak in the past 18 months since the start of the war. Here’s an article from November 2021 where they report that the Federal Reserve is planning to start hiking the prime rate: https://www.cnbc.com/amp/2021/11/24/federal-reserve-releases-minutes-from-its-november-meeting.html https://www.cnbc.com/amp/2021/11/24/federal-reserve-releases... Article about how Vice Chair Richard Clarida was telegraphing upcoming rate hikes in August 2021: https://www.axios.com/2021/08/05/fed-vice-chair-clarida-rate-hikes-economic-progress https://www.axios.com/2021/08/05/fed-vice-chair-clarida-rate... Outside of situations like March 2020 and the GFC, The Fed generally telegraphs their moves far ahead of time to give market participants time to reposition.