Some experts believe stimulus money exacerbated the increased demand, as the American Rescue Plan in early 2021 gave everyone $1,400.COVID-19 and Russia: The battles in Ukraine have severely damaged global finances and resulted in a sharp decline in the commodities and financial markets. Although there are others who contend otherwise, it is also known that the war has caused supply chain disruptions, elevated global inflation, decreased access to conventional energy supplies, low returns, and significant volatility in the capital markets. To combat inflation, the Federal Reserve can alter interest rates and other monetary policy tools to try to keep prices stable. Higher interest rates usually restrict consumer borrowing and spending, which might help temper an overheating economy