On Friday’s broadcast of the Fox News Channel’s “Your World,” Federal Reserve Bank of Atlanta President Raphael Bostic stated that business leaders he talks to think the supply chain issues will be resolved in “the middle of 2022, maybe into the third or the fourth quarter.”
Bostic said, [relevant remarks begin around 5:15] “I talk to business leaders all the time, and I ask them exactly this question, when do you expect supply chain issues to be resolved? When I asked them in the summertime, they said, we should be done by the end of the year. Today, when I ask them, they say, well, it looks like more the middle of 2022, maybe into the third or the fourth quarter. They’re just not sure.”
He added that inflation remaining until the third quarter of 2022 is possible, but isn’t what he thinks will happen. Bostic continued, “Right now, my expectation is that we’ll be past a lot of this, the episode of COVID should be starting to enter its final chapters toward the middle of next year. But there’s a lot of uncertainty. Look, we just had this emergence of a new variant. That is a source of uncertainty that could potentially extend this longer than I anticipated even just several days ago.”
Follow Ian Hanchett on Twitter @IanHanchett
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