mobile bongdaso resolution of a U.S. port strike is likely to keep global supply chain pressures on a calm footing, allowing for a continued slowdown in inflation, an index tracked by mobile bongdaso New York Federal Reserve showed on Friday.
mobile bongdaso regional Fed bank's global supply chain pressure index, which measures how readings deviate from historical averages, eased to a reading of 0.13 in September. That ended an upward trend which saw mobile bongdaso index move from -0.96 in April to 0.2 in August.
Global supply chain pressures have hovered right around normal or less than normal since early 2023, and their relative softness has played a key role in an ebbing of inflation that allowed mobile bongdaso Fed to kick off its interest rate-cutting cycle last month. Supply chain disruptions during mobile bongdaso onset of mobile bongdaso COVID-19 pandemic and its early stage played a key role in driving U.S. inflation to 40-year highs in 2022.
Progress in lowering inflation pressures had been threatened by mobile bongdaso now-suspended port strike on mobile bongdaso U.S. East Coast and Gulf Coast.
Speaking on Friday after mobile bongdaso U.S. government reported that job growth last month surged, Chicago Fed President Austan Goolsbee told Bloomberg Television that "you really couldn't ask realistically for a better report for mobile bongdaso economy, coupled with finding out that mobile bongdaso port strike is not going to be an extended matter ... those are two pieces of very good news for mobile bongdaso economy."
There had been fears in financial markets that an extended strike could reignite inflation by disrupting trade, which in turn could raise doubts about mobile bongdaso Fed's ability to continue on mobile bongdaso rate-cut path that it's policymakers have outlined.
mobile bongdaso deal struck between mobile bongdaso alliance of port operators and mobile bongdaso union representing thousands of dockworkers late on Thursday removes a risk to mobile bongdaso economy and eases mobile bongdaso threat of "a potential near-term resurgence in supply chain disruptions and inflation," Joseph Brusuelas, chief economist at RSM US LLP, said in a note to clients.
mobile bongdaso U.S. economy, however, is not fully out of mobile bongdaso woods because of mobile bongdaso tentative nature of mobile bongdaso agreement, which calls for mobile bongdaso two sides to fully hash out mobile bongdaso details of a new contract by Jan. 15, 2025.
That deadline "threatens to exacerbate supply chain bottlenecks as it coincides with critical shipping cycles, including replenishment of inventories post-holiday, spring season product positioning and preparations for mobile bongdaso Chinese New Year," said John Donigian, senior director of supply chain strategy at Moody's.
"If an agreement isn't reached by January, we could see a repeat of delays and cost surges, impacting consumer prices and market stability," he added.
Source: https://www.reuters.com/world/us/supply-chain-calm-likely-remain-amid-us-port-strike-settlement-2024-10-04/
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