Transportation Secretary Warns Supply Chain Issues Could Go Into 2022

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Transportation Secretary Warns Supply Chain Issues Could Go Into 2022
There's a backlog of container ships stranded at sea, and it's driving up prices on goods.
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Supply chain struggles could go on into next year, according to Transportation Secretary Pete Buttigieg.

"A lot of the challenges that we've been experiencing this year will continue into next year," he said. "But there are both short-term and long-term steps that we can take to do something about it. A part of what's happening isn't just the supply side. It's the demand said. Demand is off the charts. Retail sales are through the roof, and if you think about those images of ships, for example, waiting at anchor on the West Coast — every one of those ships is full of record amounts of goods that Americans are buying because the demand is up, because income is up."

The Biden administration is currently working on keeping ports like Los Angeles' running 24/7 to address bottlenecks. It's also working with state DMVs to issue commercial driver's licenses a lot faster because of the current shortage of truck drivers.

The credit rating company Moody's warns issues with the supply chain will get worse before they get better.