Your Evening Briefing: U.S. Consumers Don’t Expect Inflation to Last

U.S. stocks faced another volatile session amid worries about the potential for conflict abroad and Federal Reserve missteps at home. The S&P 500 pared losses while still heading for a third straight drop as Ukrainian leader Volodymyr Zelenskiy briefly spooked markets with a colorful comment. But there was some good news on the inflation front, as American consumers said they don’t expect red-hot levels to last for too long. New York Fed economists concluded they seem to recognize the unusual nature of the current bout of high inflation. Here’s your markets wrap.

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