BALTIMORE BRIDGE COLLAPSE COULD POSE RISKS FOR US ECONOMY IN 2024 - FEDERAL RESERVE
baltimore bridge collapse, federal reserve, adria The collapse of a major bridge in Baltimore could pose additional risks for the US economy in 2024, according to US Federal Reserve Board Governor Adriana Kugler. This could impact on shipping networks, which appear to be adapting following the incident. Kuglers highlighted potential risks such as an increase in commodity prices or further disruptions to shipping networks. Other risks include global developments such as the wars in Europe and the Middle East, which could increase commodity prices, or disruptions to the Port of Baltimore.
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WASHINGTON, April 4 (Bernama-Sputnik) -- The collapse of a major bridge in Baltimore could pose some additional risks for the US economy due to the impact on shipping networks that appear to be adapting following the incident, US Federal Reserve Board Governor Adriana Kugler said in her remarks at Washington University in St. Louis.
“I am attentive to risks—both upside risks to my inflation outlook and downside risks to the outlook for economic activity. For upside risks, global developments such as the wars in Europe and the Middle East could spark an increase in commodity prices or further disruptions to shipping networks. The tragic recent bridge collapse in Baltimore and effects on the Port of Baltimore could also pose some risk, though it appears that shipping networks are adapting,” Kugler said on Wednesday.
Topik: Traffic, Markets, Federal Reserve