1 Minute Read by Reuters Staff Reuters, WASHINGTON, July 9 – The Federal Reserve stated on Friday that shortages of supplies and “hiring challenges” are stalling the US economy’s recovery from the coronavirus outbreak, resulting in a “temporary” bout of inflation. In its semiannual report to Congress on the condition of the economy, the US central bank stated, “Progress on vaccines has led to a reopening of the economy and solid economic growth.” “Shortages of material inputs and challenges in hiring have slowed activity in a number of businesses,” according to the report. Hearings on the report will be held in Congress next week. (Henry Schneider contributed reporting.) Paul Simao edited the piece.)/n
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