Who is more scary for global investors: Vladimir Putin or Jay Powell?
The Russian president has judo skills, nuclear weapons and 100,000 troops stationed around Ukraine to back up Moscow’s threats of “the most unpredictable and grave consequences” if the west rejects its security demands over its neighbour.
But judging from recent moves in global markets, investors are far more worried about the Fed chair, who lacks any of those attributes but does have the ability to raise interest rates.
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