Record beef prices, along with rising costs for pork and poultry, have prompted the Biden administration to pursue the prospect of antitrust enforcement against the four companies that dominate the US meat supply.īut whatever the politicians and central bankers unleash in the name of taming inflation, businesses continue to struggle to manufacture and distribute their products. Public anger over rising consumer prices - especially for food and fuel - helps explain why Democrats may be in danger of losing control of Congress. With the havoc at ports showing no signs of abating and prices for a vast array of goods still rising, the world is absorbing a troubling realisation: time alone will not solve the Great Supply Chain Disruption.
Spooked by the highest rates of inflation in decades, the Federal Reserve has resolved to tighten credit, while the Bank of England and other central banks have already lifted interest rates, sowing alarm in stock markets from New York to Tokyo.
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Mayhem at factories, ports and shipping yards, combined with the market dominance of major companies, is a key driver for rising prices. The deepening understanding that the supply chain crisis has staying power poses a daunting challenge to policymakers. After decades of reliance on lean warehouses and online systems that monitor inventory and summon goods as needed - a boon to shareholders - manufacturers may revert to a more prudent focus on extra capacity. For those who keep tabs on the global supply chain, the very concept of a return to normalcy has given way to a begrudging acceptance that a new normal may be unfolding.Ĭheap and reliable shipping may no longer be taken as a given, forcing manufacturers to move production closer to customers.
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