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Dockworkers' Strike Could Cost the Economy $4.5B Per Day—and Rekindle Inflation
Key Takeaways International Longshoremen’s Association members walked out on 14 ports from New England to Texas this week, which could cost the U.S. economy up to $4.5 billion each day.The dockworker's strike could close off ports that handle more than 68% of America's imports.
How the Dockworkers’ Strike Could Ripple Through the Economy
Transportation and warehousing sectors are poised to first feel the pinch, with a broader economic fallout expected if the strike drags on.
Longshoremen strike could cost US economy billions daily
President Joe Biden told reporters Sunday he would not intervene in negotiations. The strike could cost the U.S. economy $3.8 billion to $4.5 billion per day, with some of that recovered over time after normal operations resume, according to the Associated Press.
How the port strike could impact the U.S. economy
CNBC's Jeff Cox reports on how the strike at ports around the United States could reignite inflation and impact the economy.
‘I will cripple you’: Dockworkers union vows to shut down U.S. economy with strike
International Longshoremen’s Association chief negotiator Harold Dagget said a shut down has the power to cripple the U.S. economy
Massive Dockworkers Strike to Ripple Through U.S. Economy: What to Know
JPMorgan estimates the economic loss from the shutdown of every major container port from Houston to Miami and New York-New Jersey will be between $3.8 billion and $4.5 billion per day.
45,000 workers go on strike, threaten to cripple US economy
Dockworkers throughout the United States initiated a major strike on Tuesday as union members fight for increased wages and job protection.
45k union dockworkers could strike costing US economy billions daily
Supply chain expert Eric Hoplin joined 'Fox & Friends Weekend' to discuss what is at stake with a possible strike and the broader impact on the American supply chain.
The potential impact of the port worker strike
Thousands of dock workers across the eastern seaboard are striking over a contract dispute. Economist and Lehman College professor Juan DelaCruz joins PIX11 to discuss what’s preventing contract negotiations from working,
‘Nothing’s going to move without us’: Port workers in Philadelphia and across the country go on strike
Docks in Philadelphia and all along the East Coast and Gulf Coast have ground to a halt as dockworkers strike for the first time in nearly 50 years. About 45,000 members of the International Longshoremen’s Association hit the picket line around midnight when their contacts with the owners of 36 ports expired.
17m
on MSN
BlackRock's CEO says China is the biggest supporter of Russia's economy amidst the Ukraine war
BlackRock chief Larry Fink says that Western businesses should re-evaluate their ties to China.
12h
Powell says U.S. economy is in ‘solid shape’ — and the Fed intends to keep it that way
Federal Reserve Chair Jerome Powell said the 50-basis-point cut in the central bank’s policy rate earlier this month was a ...
LIVE
3h
Debate Fact Check: Vance and Walz on the Economy, Abortion and Housing
Gov. Tim Walz was pressed on his time in China and Senator JD Vance on his assertion that there was a peaceful transfer of ...
1d
A 'Roaring '20s' economy is becoming more likely as bullish factors stack up, UBS says
"It's no longer too soon nor too optimistic to suggest that the US will experience a Roaring '20s economy," UBS said.
16h
Why China’s Struggling Economy Creates A Huge Price Boost For Bitcoin
As bitcoin's price continues to test upwards momentum, China's economic slowdown may be an understudied and massive demand ...
1d
Fed Chair Powell says the US economy is in ‘solid shape’ with gradual rate cuts coming
Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will ...
18h
Port strike freezes shipping on East Coast, dealing blow to economy
The strike is disrupting ports that handle more than half of U.S. trade in shipping containers, with the economic bite ...
Forbes
1d
Harris’ “Opportunity Economy” Closes The Economic Gap With Trump
Opinions expressed by Forbes Contributors are their own. I’m an economist studying cities and states and their importance in ...
Opinion
2h
Opinion
The US Economy’s Landing Isn’t as Soft as We Think
For all the talk of a soft landing in the US, there’s one corner of the economy where the hazard lights are flashing: the ...
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