I appeared on Yahoo! Finance with Julie Hyman and Joshua Lipton to discuss the likely longshore strike against the East Coast and Gulf Coast ports that could begin at midnight on September 30. I expect the ILA to move forward with its strike and it has the potential to last for a while. Public reports do not suggest any movement toward a resolution. Although, as you will hear Acting Secretary of Labor Julie Su say on an upcoming blogcast, the parties always seem far apart until they aren't.
Watch the full interview here:
I discussed both the politics and the expected economic impact of the strike, if it happens. The politics are complicated and the potential strike's influence on the 2024 presidential election is hard to predict, but likely to be small. The economic consequences are also likely to be small, although prices may rise for some products if the strike lasts for more than a few days. But price rises may not be due to the strike in every case --- these are the kinds of circumstances that seem to invite price gouging by profit-mongering businesses.
We are eager to read your thoughts on the strike and its political and economic impact. If you are an ILA member, we welcome your take on the negotiations with the U.S. Maritime Alliance and your assessment of your union siblings' readiness and enthusiasm for a strike.
