Keckley Report May 2, 2022
Since March 2020, America’s focus has been on the pandemic. Most think the worst is past while fear of a new Omicron variant wave lingers.
Since January 2022, the U.S. economy has eclipsed its 41-year record inflation rate (8.5% in March) and a decline in productivity: through the first 4 months of 2022, the S&P 500 is down 13% and the GDP has shrunk at an annualized rate of 1.4%. Suddenly, the pandemic is old news and inflation is the new news.
Since February 24, 2022, America’s attention has been drawn to the Ukrainian invasion by Russia and NATO’s response. Early hope of a quick diplomatic solution is gone; what’s ahead and the role played by the U.S. is unknown.
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