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04.05 - 19:31
U.S. Economy Grows Moderately Amid High Inflation, Ukraine Invasion
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The U.S. economy grew at a moderate pace in early spring as Covid-19 cases declined and high inflation rippled throughout the U.S. economy, and the Ukraine war created new economic uncertainty, the Federal Reserve said in a report.
“Outlooks for future growth were clouded by the uncertainty created by recent geopolitical developments and rising prices,” the Fed said on Wednesday in its periodic compilation of business anecdotes from around the country, known as the Beige Book. The report contained details about the latest effects of high inflation, supply-chain bottlenecks and the strong demand for workers.
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