Barkin: Ukraine may add to inflation, but so far has not hit broader demand

(Reuters) – The war in Ukraine has added to inflationary pressure in the U.S. but so far does not appear to have influenced demand for goods and services, Richmond Fed president Thomas Barkin said Wednesday.

“I have not yet seen the drop in demand” for goods and services because of the recent spike in energy costs, Barkin said in comments to Bloomberg that seemed to downplay the risk of the Fed being faced with both high inflation and weakening economic growth.

(Reporting by Howard Schneider)