Mark Zandi, Chief Economist at Moody’s Analytics, will speak at a forum in Washington, DC in December 2017.
According to Mark Zandi, chief economist at Moody’s Analytics, the Biden administration’s efforts to mitigate supply chain crises are “a step in the right direction.”
President Biden will meet with Wal-Mart, FedEx, UPS, Target, Samsung port operators, truck associations, unions and executives today as part of managing a “90-day sprint” to address bottlenecks.
“There are a lot of people involved in the world, which is, of course, a logistic nightmare,” Zandy said in an interview. “It’s a complicated issue. The pandemic is still going on, and as long as the pandemic affects the rest of the world, it won’t be easy and will take time,” he said. The surge in Covid-19 Delta variants is causing major supply chain problems, Zandy said.
It’s affecting other parts of the world, especially Asia, and more specifically Southeast Asia, where many of these supply chains begin-he told.
He gave an example of a Malaysian semiconductor factory being closed due to a worker’s illness, which caused a shortage of vehicles due to a shortage of trucks. “The pandemic itself confused things,” he said. Zandy also said he would buy “everything of all” as more people get stuck at home.
You have all this material through the pipeline, and the pipeline is confused by the pandemic, which leads to this mess, and it’s a set of complex relationships from factories to trucks to harbors. From the container ship to the port, from the truck to the warehouse.
Zandy also predicted that commodity costs would stabilize, which could be needed until next year.
“All the latest waves of the virus are not more confusing than the previous ones. Now let’s tackle these things. That way, you’ll see some caution. It’s the same in the whole labor market. “