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Inflation and Russia’s Invasion of Ukraine Expected to Take Toll on U.S. Economy and Housing Sector

Inflation and Russia's Invasion of Ukraine Expected to Take Toll on U.S. Economy and Housing Sector

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Mortgage Rates Likely to Experience Competing ‘Flight to Quality’ and Fed Tightening Pressures WASHINGTON, March 17, 2022 /PRNewswire/ — The Russian invasion of Ukraine, and its implications for the global economy, has added to growing inflation pressures and ongoing supply chain difficulties as monetary policy tightening begins, according to the March 2022 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group now projects full-year 2022 real GDP growth of 2.3 percent, down from last month’s projected 2.8 percent, but acknowledges that many of its forecast’s base assumptions, including a near-term resolution to the acute global economic effects of the Russian invasion of Ukraine, represent substantial downside risks to both the macroeconomic and housing outlooks.

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