More supply chain problems will mean inflation stays high

“We’re not seeing, really, a lot of progress. If you look across the global supply chains and what’s happening domestically, look at our ports, look at Long Beach and L.A., the two big ports on the West Coast for Asia, the number of ships at anchor is still at a record level,” Powell told the Senate Banking Committee on Tuesday. “So, we’re not really seeing yet the kind of progress we, essentially, all forecasters, really thought we’d be seeing by now, and that’s really what’s driving it.”