Gas, food prices expected to rise in Minnesota due to Russian attack on Ukraine

War in Europe complicates the Federal Reserve's effort to cool inflation without throwing the U.S. into recession

Feb 25, 20220

Emilio Morenatti | Associated Press count

Traffic jams were seen Thursday as people fled Kyiv, Ukraine's capital city. Russia's full-scale invasion of Ukraine unleashed airstrikes and sent troops and tanks from multiple directions.

Even higher gas and food prices. Turbulence in the stock markets. And a slower return to economic normalcy.

Russia's invasion of Ukraine on Thursday will send ripple effects across the American economy - and into the wallets of Minnesotans - just when the coronavirus pandemic appeared to be loosening its grip on it.

It's too early to know the size and duration of the effects. The Federal Reserve was already on a high wire trying to cool red-hot inflation without throwing the U.S. into recession. War in Europe complicates that work even more.

https://www.startribune.com/gas-food-prices-expected-to-rise-in-minnesota-due-to-russian-attack-on-ukraine/600150211/