This aerial photo shows the collapsed Francis Scott Key Bridge lying on top of the container ship Dali in Baltimore, Maryland, March 31, 2024, as cleanup efforts begin. – (Photo credit: DANIEL SLIM / AFP)
WASHINGTON – The collapse of a major bridge in Baltimore could pose further risks to the U.S. economy due to its impact on the shipping network, which is still adjusting after the disaster, Federal Reserve President Adriana Kugler said. said this in a lecture at the University of Washington in 2016. St. Louis.
“I am mindful of both the upside risks to the inflation outlook and the downside risks to the economic activity outlook. On the upside, global developments such as wars in Europe and the Middle East could lead to higher commodity prices and further disruption. may cause 'to the delivery network.
“The recent tragic bridge collapse in Baltimore and its impact on the Port of Baltimore may also pose some risk, but the shipping network appears to be adapting,” Kugler said Wednesday.
Another risk, Kugler said, is that consumption growth could be stronger than expected, mainly due to wage increases across all income groups.
In the early hours of March 26, a Singapore-flagged commercial cargo ship collided with the Francis Scott Key Bridge in Baltimore shortly after departing for Colombo, Sri Lanka.
The bridge collapsed and at least eight construction workers working on the bridge fell into the water.
Shipping traffic at the Port of Baltimore has been suspended until further notice after the bridge collapse caused major supply chain disruptions. – Barnama