General Motors is out saying that it expects to run out of parts at Kansas plant as soon as next week. This is because of the Missouri plant strike.
The ship shortage from Covid, led to a shortage of autos for a few years and also to higher prices for used and new cars. The auto strike now threatened supply once again if it continues. Also of concern is that prices which are already up sharply, will continue the upward trajectory leading to higher inflation down the road.
The Federal Reserve will announce her interest rate decision on Wednesday at 2 PM ET. CPI inflation year on year rose to 3.7% from 3.2%, and sits well above the 2% target. The month-to-month increased by 0.6%.
This article was written by Greg Michalowski at www.forexlive.com.
