The U.S. Federal Reserve Says Mandatory Vaccination Exacerbate Supply Chain Crisis

Translated by: MOS Translation Team – Snorlax

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A new Federal Reserve Beige Book report says vaccine mandates are hurting jobs, accelerating the supply chain crisis, and pushing up prices.

In September, President Joe Biden required all U.S. companies with 100 or more employees to have their employees vaccinated or submit weekly nucleic acid testing reports. As a result of the president’s executive order, many companies are forcing their employees to be vaccinated. This has led to employees who do not want to accept the mandatory vaccine policy being forced to quit or go on strike. A massive strike by Southwest Airlines employees caused more than a thousand flights to be canceled. Police officers and firefighters in cities like Chicago and Baltimore, a large portion of whom may lose their jobs because they refuse to be vaccinated.

A recent Beige Book report says that childcare issues and mandatory vaccines are the main reasons for corporate employee departures. Companies and organizations that have fired employees due to vaccine mandates are facing staffing problems. The lack of warehouse workers and truck drivers has left goods stranded at ports and unable to be shipped around in a timely manner, as well as preventing port ships from returning because they cannot be unloaded. There is also a shortage of hardware equipment and medical supplies. Retail prices for fish, meat, poultry, and eggs have been increased by 10% in 2020. Store shelves are experiencing empty shelves in a way that has rarely been seen before.

Federal Reserve Chairman Jerome Powell seems to have expressed a stronger willingness to taper. The Fed may also accelerate the pace of interest rate hikes, and the chances of a decision to raise interest rates at the next meeting are already more than 80%.

Proofread by: Comet2056
Edited by: Comet2056
Posted by: Comet2056


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