Investor Presentaiton

10 Inflation's Rocky Path Back to Target Consumer price inflation, % change yr ago Russia Invades Ukraine Oil Prices Fall 987654 3 2 1 0 19 Sources: BLS, Moody's Analytics Moody's Analytics 20 Pandemic Recession Vaccine Rollout American Omicron Wave Rescue Plan Supply Chains Ease Federal Reserve Inflation Target 21 21 22 March 2023 23

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