Russia Ukraine invasion likely to have modest impact on U.S. economy

Russia’s invasion of Ukraine could deliver another blow to a U.S. economy that’s already expected to slow after a blockbuster 2021 while driving oil prices and inflation higher and intensifying supply-chain snarls.

“We’re looking at the tensions via the prism of an economy that’s recovering from COVID, global supply chains are really stressed, and we have a high inflation environment,” says Gregory Daco, chief economist at EY-Parthenon. “The tensions will further fuel inflation and further stress supply chains.”