Dr. Raphael W. Bostic who is the chief executive officer of the Federal Reserve Bank of Atlanta is currently speaking and has said that the US economy is "still quite strong" as officials try to figure out the economy "in real time".

Bostic said companies and output remain constrained by the inability to find workers but when it comes to demand and spending, "people are ready to go".

Key comments

No clear evidence demand will fall off in the coming months; growth is expected to continue.

Modal outlook is not for the recession, but "eventually there will be some slowdown" in growth.

Not sure yet how sanctions on Russia will impact economy.

Uncertainty could lead to some retrenchment of investment.

More to come...