As labor negotiations continue between the railroads and unions, laborers voted to go on strike Monday unless President Biden intervenes. A potential strike would put additional strain on the fragile U.S. rail system.
The CPI, an inflation gauge measuring what consumers pay for goods and services, rose 1.3% from May to June. Prices were up across the economy, with gasoline far outpacing other categories, up 11.2%.
According to the USDA, 2020 farming activities in the U.S. made up 11.2 percent, or 670 of 5,981 million metrics tons, of the U.S.’s total carbon contribution.
Infuriating price increases are the topic of the day, and but like the 80’s, rising inflation is driven largely by energy and the price of oil. It's now less about the supply of oil, and more about refining capacity.
U.S. Labor Secretary Marty Walsh remained optimistic about contract negotiations between workers and shipping companies for some of the country’s most important ports, even as talks extend past a previous deadline.
President Biden says he has not made a decision yet on whether to lift some of the $370 billion of tariffs imposed on Chinese imports by the Trump Administration.
USDA Secretary Tom Vilsack announced agricultural producers have already received more than $4 billion through the Emergency Relief Program (formerly WHIP+), representing 67% of the $6 billion projected to be paid.