December 6, 2022

Taylor Daily Press

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Rail strikes underway: Why it's bad news for the central bank?

Rail strikes underway: Why it’s bad news for the central bank?

In the United States (USA), railroad unions are threatening to walk off the job. They demand, among other things, better wage conditions. Such social action will further increase inflation. That’s bad news for the Federal Reserve, which is doing everything it can to slow the currency’s depreciation.

Why is this important?

Not only in our country Social tensions are high. In other countries too, unions organize campaigns for greater purchasing power. Unlike Belgium, many countries do not automatically adjust wages to increasing life expectancy. For example, railway workers in the United States have threatened to strike.

In the message: In America, railroad unions are ready to strike for more purchasing power and better working conditions.

  • Two railway unions reached preliminary agreements with railway companies in September, but their members refused to ratify them.
  • Various interest groups hope the White House will come up with a solution. US Labor Secretary Marty Walsh says Congress will step in

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