Are Red Sea troubles the beginning of global inflation?
01/23/2024 05:19
Shipping rates are in a serious upswing, gaining as much as 23% in a single week, as Yemen Houthi forces continue to target cargo ships passing through the Red Sea region. As the conflict appears to remain far from resolved, what does this mean for global trade and US consumers' wallets? Wells Fargo Global Receivables & Trade Finance EVP Stephen Schwartz joins Yahoo to discuss the latest developments with the conflict in the Red Sea "While we have not seen disruption in the Red Sea lead to material impact to US consumers today, we are continuing to monitor the situation closely and certainly the risk of impact increases the longer the disruption continues," Schwartz explains. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Shipping rates are in a serious upswing, gaining as much as 23% in a single week, as Yemen Houthi forces continue to target cargo ships passing through the Red Sea region. As the conflict appears to remain far from resolved, what does this mean for global trade and US consumers' wallets?
Wells Fargo Global Receivables & Trade Finance EVP Stephen Schwartz joins Yahoo to discuss the latest developments with the conflict in the Red Sea
"While we have not seen disruption in the Red Sea lead to material impact to US consumers today, we are continuing to monitor the situation closely and certainly the risk of impact increases the longer the disruption continues," Schwartz explains.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino