President Biden has announced a deal to expand operations at the Port of Los Angeles. A logjam of ships there and elsewhere waiting to unload in the U.S. is being blamed for a supply chain squeeze and climbing prices.
But the expansion of port operations was also an unspoken recognition that inflation is lingering at higher levels long after the economy began to reopen from the coronavirus pandemic. Businesses were worrying aboutin June, yet the administration only formed its supply chain task force that month and named a port envoy on Aug. 27 to address the challenge.
“No one really knows what’s going to happen,” wrote Stevenson, a former member of the White House Council of Economic Advisers under President Barack Obama. Walmart, FedEx, UPS, Target, Samsung and The Home Depot committed to unloading during off-peak hours, making it easier for the Los Angeles port to operate nonstop. The Long Beach port has been operating 24 hours daily for seven days for roughly the past three weeks.
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