S&P Global Market Intelligence comments were reported in the Wall Street Journal (gated).
In brief:
many importers and manufacturers pulled forward orders to try to get ahead of the looming East Coast port strike now under way if not resolved soon, the strike could eventually affect the shipping of 40% to 50% of U.S. importsdisruptions would surely put upward pressure on goods pricesin turn complicating the Federal Reserve’s ambition to wind down its fight against inflationhigher shipping costs to the East Coast in anticipation of the strike have already contributed an inflationary impulse
This article was written by Eamonn Sheridan at www.forexlive.com.
