“No way did I realize how difficult it was going to be to try and get people to come to work these days”: CEO of CSX.
They’re getting passed on and feed into the inflation scenario.
“Turns out it’s a heck of a lot easier to create demand than it is to bring supply up to snuff”: Jerome Powell
The recovery as it were, after everything went to heck but didn’t.
Enormous uncertainty about the structural change in the lucrative business travel segment.
But shipment volume, though strong, is not at record levels.
Exactly at the worst possible time. Ripple effects to be felt for months.
Airlines, meanwhile, face pent-up demand of the wrong kind.
“L-shaped recovery” for mass transit. Per person, vehicle miles were already in long-term decline since 2003. Than came 2020.
Inflation worming through various levels of the economy despite suboptimal demand.