The consumer price index (CPI) rose 7.9 percent in February compared to the previous year, continuing a streak of inflation at 40-year highs. David Scranton explains how the Russian invasion of Ukraine has further impacted high levels of inflation, especially with regard to commodities like gas and oil. Additionally, U.S. equities are under pressure and volatility is on the rise. Scranton also discusses the Federal Reserve’s reactions to inflation and U.S. markets a week before interest rate hikes are expected to begin.