• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Wells Fargo CEO says supply chains ‘will get solved’ in ‘6 to 12 months’

October 25, 2021
in Finance
Reading Time: 4 mins read
A A
0
Wells Fargo CEO says supply chains ‘will get solved’ in ‘6 to 12 months’
0
SHARES
2
VIEWS
ShareShareShareShareShare

The situation in which employers find it hard to hire and the supply chain crisis forces businesses to hike prices is likely to persist for at least 6 to 12 months, one bank chief said.

“The realities of things like… wage pressures… supply chain pressures… all these things are going to continue to contribute to this wage inflation that we’re seeing,” Wells Fargo CEO and President Charles Scharf told Yahoo Finance’s Andy Serwer at the annual Milken Institute Global Conference. 

Noting that supermarkets are already forecasting higher prices, Scharf added that while “that’s all very, very real, … all these things will level out. Supply chains will get solved, I personally just think it’s going to be six-to-12 months.” 

Charles Scharf, CEO, Wells Fargo speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S. October 18, 2021. REUTERS/David Swanson

Supply chain crisis’ impact on smaller and medium-sized businesses to be monitored

As companies have begun introducing price increases on household products, economists continue to debate whether the inflation that the U.S. economy is experiencing is transitory or not.

One of the factors pushing inflation higher is the supply chain fiasco the country is experiencing, which has been affecting various goods. With many containers stranded at sea and trucking routes clogged, experts anticipate that these problems will iron themselves out.

But they disagree on exactly when those pressures will ease. 

Siemens USA CEO Barbara Humpton told Serwer at the Milken conference on Monday that her supply chain professionals are expecting disruptions through 2022.

10/23/21: Shipping containers are seen reflected in a pond at the Port of Savannah in Georgia. The supply chain crisis has created a backlog of nearly 80,000 shipping containers at this port, the third-largest container port in the United States. (Photo by Paul Hennessy/SOPA Images/LightRocket via Getty Images)

10/23/21: Shipping containers are seen reflected in a pond at the Port of Savannah in Georgia. The supply chain crisis has created a backlog of nearly 80,000 shipping containers at this port, the third-largest container port in the United States. (Photo by Paul Hennessy/SOPA Images/LightRocket via Getty Images)

Others predict an even longer time horizon for supply chain disruptions to abate. 

“We expect… strained supply chains to last until the early parts of 2023,” Peter Sand, chief shipping analyst at Copenhagen-based BIMCO, a shipping trade group, told Yahoo Finance in a previous interview. “We are basically seeing a global all-but-breakdown of the supply chains from end-to-end.”

Scharf said at this stage, he was also concerned about the “evenness” of how these problems will impact businesses and whether or not small- and medium-sized businesses would get outmaneuvered by larger businesses.

“When inventory levels get lower, who’s going to get the shipment versus who’s not? Who’s able to spend? Who’s able to pay for the increase in wages?” Scharf explained. “It’s something that we’ve got to watch and continue to figure out how we help them.”

—

Aarthi is a reporter for Yahoo Finance. She can be reached at aarthi@yahoofinance.com. Follow her on Twitter @aarthiswami.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn


Credit: Source link

ShareTweetSendPinShare
Previous Post

Good Games Guild Announces Triple IDO on Seedify, Ignition, MoonStarter

Next Post

Pontem Network Joins Polkadot’s Substrate Builder’s Grant Program

Related Posts

Feld Entertainment CEO: We’re ‘reimagining’ the circus
Finance

Feld Entertainment CEO: We’re ‘reimagining’ the circus

June 25, 2022
5
Business leaders react to Roe v. Wade
Finance

Business leaders react to Roe v. Wade

June 25, 2022
7
Stocks rise as indexes head for weekly gains
Finance

Stocks rise as indexes head for weekly gains

June 25, 2022
6
Here’s why millennials shouldn’t shy away from investing
Finance

Here’s why millennials shouldn’t shy away from investing

June 24, 2022
8
Canada’s Aurora Cannabis to shut down a facility in Edmonton
Finance

MSCI 2022 Market Classification Review

June 24, 2022
5
Next Post
Pontem Network Joins Polkadot’s Substrate Builder’s Grant Program

Pontem Network Joins Polkadot’s Substrate Builder’s Grant Program

Recommended

DAOs experience 8x growth in 12 months

DAOs experience 8x growth in 12 months

June 12, 2022
6
Why Is Inflation So High Right Now? 6 Reasons & What Comes Next

Why Is Inflation So High Right Now? 6 Reasons & What Comes Next

June 9, 2022
4
Litecoin MimbleWimble Delisted by Several Exchanges for Being Too Privacy-Protecting

Litecoin MimbleWimble Delisted by Several Exchanges for Being Too Privacy-Protecting

June 14, 2022
9
How to save money at the supermarket with picky kids

How to save money at the supermarket with picky kids

June 8, 2022
6
Inflation hits 40-year high as CPI rises 8.6% in May

Inflation hits 40-year high as CPI rises 8.6% in May

June 10, 2022
4
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • Bored Ape Yacht Club Founder Criticizes Campaign That Says The BAYC Has Nazi Symbolism
  • Singapore’s changed stance on crypto
  • Feld Entertainment CEO: We’re ‘reimagining’ the circus

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?