From inflation to war, here are the 4 big factors impacting markets and the economy right now

cnbc.com:

HUNTINGTON BEACH, Calif. — There are four big trends impacting the economy and stock market right now, and uncertainty around each is creating challenges for investors, market experts and investment strategists said Monday at the Future Proof wealth conference.

Those high-levels trends are inflation, the Federal Reserve's interest-rate policy, the U.S. dollar's strength and the Russian invasion of Ukraine, said Barry Ritholtz, chief investment officer and chairman of New York-based Ritholtz Wealth Management.

«The macro environment at present is uncertain,» Anastasia Amoroso, managing director and chief investment strategist at iCapital Network, said.

«We've been at this for nine months and what have we really figured out» except that inflation is longer-lasting than expected, she added.

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The Federal Reserve has steadily raised borrowing costs since March this year to tame stubbornly high inflation.

Officials at the U.S. central bank have updated their expectations for how quickly and how much they will raise the benchmark interest rate — the Federal funds rate — to achieve their goal.

That «moving target» has been the biggest challenge this year relative to price volatility in the stock market, said Michael Arone, chief investment strategist for the U.S. SPDR business at State Street Global Advisors.

The war in Ukraine has also had global ripple effects on prices for energy, food and other commodities.

And the U.S. dollar is trading at its strongest in decades relative to currencies such as the euro and the