Industrial production in the
U.S. defense and space sector has increased 17.5% since Russia launched its full-scale invasion of Ukraine two years ago, according to Federal Reserve data.
Biden administration officials say that of the $60.7 billion earmarked for Ukraine in a $95 billion supplemental defense bill, 64% will actually flow back to the U.S. defense industrial base.
“That’s one of the things that is misunderstood…how important that funding is for employment and production around the country,” Lael Brainard, director of the White House National Economic Council, said in an interview Wednesday.
