Russia’s attack on Ukraine will lead to a bigger impact on U.S. economy as it pushes gas prices, inflation higher, dents confidence

Written by on February 24, 2022

Russia’s assault on Ukraine Wednesday means the battle will take an even bigger toll than believed on the U.S. financial system because it drives oil costs and inflation increased and intensifies provide chain snarls.

“This strikes us towards a much less favorable financial outlook with slower exercise and better inflation,” says Gregory Daco, chief economist at EY-Parthenon.


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