Potential Impacts of the War in Ukraine on the Fourth District
Abstract: This District Data Brief examines the trade connections between Ukraine and Russia and the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It appears that supplies to the District will be substantially reduced for several items that Ukraine and Russia export, such as primary metals and fertilizer. We should expect prices to rise for these goods, as they have already for petroleum. However, there are generally alternate global suppliers for many of the goods sold by Ukraine and Russia, so Fourth District firms will probably not be forced to halt production because of lack of materials.
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Provider: Federal Reserve Bank of Cleveland
Publication Date: 2022-06-23