Free Republic

January’s Beige Book was once again headlined by the utterly useless comment that “economic activity across the United States expanded at a modest pace in the final weeks of 2021” that has come to reflect the snoozy name of the report. And while we saw recurring and familiar themes mentioned over and over, including supply chain issues and labor shortages, the report noted some signs of easing inflation perhaps as a result of Omicron (which was mentioned no less than 44 times) began to hit activity. That said, there were few big picture surprises, with the report noting that growth...

NEW YORK (BLOOMBERG) - Shortages in the semiconductor industry, which have already slammed automakers and consumer electronics companies, are getting even worse, complicating the global economy's recovery from the coronavirus pandemic. Chip lead times, the gap between ordering a chip and taking delivery, increased to 17 weeks in April, indicating users are getting more desperate to secure supply, according to research by Susquehanna Financial Group. That is the longest wait since the firm began tracking the data in 2017. "All major product categories up considerably," Susquehanna analyst Chris Rolland wrote in a note on Tuesday (May 18), citing power management...

The Pacific Maritime Association suspends weekend vessel operations at all 29 ports along the West Coast. For the second time this week, terminal operators controlling the West Coast ports have raised the stakes in contract negotiations with their dockworkers. On Friday, the Pacific Maritime Assocation (PMA) said it would suspend weekend vessel operations at all 29 ports along the West Coast. “After three months of union slowdowns, it makes no sense to pay extra for less work,” PMA spokesman Wade Gates said in a statement. “Especially if there is no end in sight to the union’s actions, which needlessly brought...

The West Coast port slowdowns are hurting workers as well as retailers this holiday season.The NBC affiliate in Seattle reported that many of those who work for the ports can’t afford utilities or Christmas gifts for their families because the slowdowns have delayed their paychecks. The work slowdowns are the result of a seven-month labor dispute between the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU). Each side of the dispute blames the other.Vicki Raiter, the mother of one of the Port of Tacoma workers, told the local NBC affiliate, “If the shipments aren’t coming, then...