This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEH9J0YD_L.jpg
(Reuters) – U.S. Transportation Secretary Pete Buttigieg said on Wednesday he expects disruptions in the trucking industry to last as long as the COVID-19 pandemic persists.
“There are going to be disruptions and shocks to the system as long as the pandemic continues,” he said in an interview with CNN on Wednesday when asked about the trucking industry facing driver shortages.
He had said on Sunday that supply chain issues could persist into 2022 as many companies struggle with disruptions.
Rating agency Moody’s (NYSE:MCO) said on Wednesday that the pressure on U.S. supply chains will take time to subside. Increased transportation costs and shortages of commodities and consumer goods will put upward pressure on consumer prices, Moody’s said.
