The impact of the Russia-Ukraine War on the U.S. Economy: A comprehensive analysis
Department of Computer Science & Engineering, Symbiosis International University, Pune, India.
Research Article
World Journal of Advanced Research and Reviews, 2024, 23(02), 1679–1687
Article DOI: 10.30574/wjarr.2024.23.2.2492
Publication history:
Received on 11 July 2024; revised on 19 August 2024; accepted on 21 August 2024
Abstract:
The Russia-Ukraine war, which began in February 2022, has significantly impacted the global economic landscape, with profound effects on the United States economy. This paper provides a comprehensive analysis of these impacts [3]. The study highlights how the conflict has disrupted supply chains, escalated inflation, and influenced U.S. monetary and fiscal policies. Key findings indicate that higher energy and food prices have accelerated inflation, leading the Federal Reserve to increase interest rates and implement quantitative tightening measures [12]. Concurrently, the U.S. government has responded with substantial fiscal measures, including increased defence spending, energy sector support, and economic aid packages [17]. The paper also discusses the broader implications of the war on global trade, supply chains, and geopolitical alliances. By examining the interplay between these factors, the study provides insights into the policy measures needed to mitigate the adverse effects of the conflict and enhance economic resilience. The findings underscore the importance of adaptive strategies and international cooperation in navigating the complex economic challenges posed by the Russia-Ukraine war.
Keywords:
Russia-Ukraine War; U.S. Economy; Inflation; Monetary Policy; Supply Chain Disruptions
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