ilmscore | Ports Are Shut Down - How This Affects Our Economy & Inflation

Ports Are Shut Down - How This Affects Our Economy & Inflation

Published: 2024-10-02
Status: Available | Analyzed

Predictions from this Video

Total: 6
Correct: 0
Incorrect: 0
Pending: 6
Unrated: 0
Prediction
Topic
Status
The port strike is estimated to cost the US economy $3.7 billion per week.
"CNBC said that the cost of the strike could cost the economy about $3.7 billion a week."
Port Strike Economic Impact
Pending
Each day of the port strike could cost the US economy up to $5 billion due to blocked imports and exports.
"According to USA Today, again, also from today, they said that each day of the strike could cost the economy up to $5 billion a day as imports and exports are blocked."
Port Strike Economic Impact
Pending
Walmart, IKEA, and Samsung are identified as the top three companies most exposed to the port strike closures.
"according to CNBC, the top three companies that have the most exposure to this port strike closure are number one, Walmart, number two, IKEA, number three, Samsung."
Companies Affected by Port Strike
Pending
Banana and tropical fruit prices are expected to be most impacted by the port strike, as approximately 75% of US bananas enter through east coast and Gulf coast ports.
"experts say that the grocery prices that will be impacted the most include things like bananas and tropical fruits because about 75% of bananas in the United States enter through the east coast and GF coast ports."
Grocery Prices Impacted by Port Strike
Pending
Car parts are predicted to be the second most impacted category in terms of price due to the port strike, following groceries.
"After grocery prices, the second thing that are expected to be impacted the most are car parts."
Car Parts Prices Impacted by Port Strike
Pending
The port strike might cause the Federal Reserve to slow down its planned interest rate cuts.
"But if the Federal Reserve Bank says maybe we're going to take interest rate cuts a little bit lighter now because of the strike of the port closure, well, that could shake things up a little bit."
Federal Reserve Interest Rate Policy
Pending