WASHINGTON (Reuters) - The U.S. economic recovery accelerated in recent weeks even as a long list of supply chain troubles, hiring difficulties, and rising prices cascaded through the country, Federal Reserve officials said in their latest review of economic conditions.
A Wendy's restaurant displays a "Now Hiring" sign in Tampa, Florida, U.S., June 1, 2021.
“Looking forward, contacts anticipate facing cost increases and charging higher prices in coming months,” the Fed said.
Fed officials say they will likely struggle for several months to get a clear read on an economy snapping back to life but hitting some speed bumps as it accelerates.
Manufacturers have struggled to source some supplies, adding to cost pressures that the central bank expects will prove temporary.
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