A looming port strike could fuel inflation and cause layoffs, experts say
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Tens of thousands of dockworkers are set to strike as soon as Oct. 1; a port shutdown could cost the economy up to $4.5 billion daily; East and Gulf Coast ports account for over half of U.S. container imports; a prolonged strike could drive up prices and cause layoffs; 75% of U.S. imported bananas come through these ports; potential price increases may delay Federal Reserve interest rate cuts; manufacturing disruptions could lead to layoffs in related industries; the last East and Gulf Coast strike lasted seven weeks in 1977; President Biden can intervene under the 1947 Taft-Hartley Act but is currently monitoring the situation.

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https://abcnews.go.com/Business/looming-port-strike-fuel-inflation-cause-layoffs-experts/story?id=114070962