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Ukraine may add to inflation, but so far has not hit broader demand -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – An eagle flies above the facade of Washington’s U.S. Federal Reserve Building, July 31, 2013. REUTERS/Jonathan Ernst

(Reuters) – While the war in Ukraine may have increased U.S. inflationary pressure, it has not yet appeared to have impacted demand for goods or services, Richmond Fed president Thomas Barkin indicated Wednesday.

Barkin commented to Bloomberg, “I haven’t yet seen the decline in demand” of goods and services as a result of recent energy cost spikes. He said this in comments that appeared to downplay the Fed’s risk of having high inflation and low economic growth.

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