Know The Difference Minute

If it happens, it could cost the US economy $2 billion a day.

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Another kink in the Supply Chain?
Welcome to the Know the Difference Minute for Wednesday, September 14th.
2 years of negotiations with 6 of the largest rail carriers and the 12 unions representing workers—and we still might see a rail strike that could cost the US economy $2 billion. That’s $2 billion a day.
At issue are attendance policies which unions maintain are restrictive and unfair. The White House is preparing contingency plans to deal with the possible disruption of an industry that hauls 28% of US freight that includes food, energy, chemicals, automobiles, industrial parts—and a whole lot of shipping containers packed with goods. The trucking industry is already slammed and will be hard pressed to help.
Retailers that have been dealing with inflation, excess inventory and supply chain bottlenecks are now preparing for additional costs that will eventually trickle down to consumers.
I’m Deanne Phillips from Annex Wealth Management. That is your Know the Difference Minute.