The Conference Board forecasts that
the US economy will grow by just 1.5 percent (annual rate) in Q1 2022, and 3.0
percent for the full year. Economic growth continues, but the pace has slowed in
recent months. The Omicron shock has been replaced by a Ukraine shock. The war
in Eastern Europe is impacting global energy and food prices. This is resulting
in high inflation rates despite progress on the pandemic. As labor markets
remain tight, the Federal Reserve has become more hawkish and interest rates are
on the rise.