The Federal Reserve cited supply chain woes among concerns leading the US central bank to see upside in its inflation outlook.
Supply chain woes, which are increasingly leading governments to focus their attention on ocean shipping, also influenced the Fed’s downside in its expectations for economic activity.
Minutes released on Wednesday of a June meeting of the bank’s Federal Open Markets Committee showed the panel saw the war in Ukraine and China’s tough stance on Covid-19 as “increasing the risk that supply chain disruptions and production constraints would be further exacerbated in the United States and abroad”.
