Russia’s invasion of Ukraine, in addition to the pain and devastation it has caused, also added another roadblock to the global economy’s attempt to return to some kind of “normal” after the pandemic. In addition to pushing oil prices even higher, it’s also broadly raised the level of inflation. Inflation had already been spiking due to extreme levels of monetary and fiscal accommodation following the onset of the pandemic. As a result, gas prices, which are already over $5 in California, are currently averaging over $4/gallon nationwide, with some sources predicting the highest prices in US history by Memorial Day. Inflation is evident in many other places, too – cars, housing, tuition, wages, and even food, to name a few.