8% in august. the fed just raised interest rates by 75 basis points for the third time, another increase likely coming right before the election. home sales are down year to year, mortgage rates are up. the economic case that you re making really isn t reconciled with the facts of what people are facing. look at what we inherited when we came into office. we inherited a global economic crisis caused by the pandemic, caused by supply chains that were snarled across the world again because of factory closures, because of inability to move goods because of the pandemic. globally we have seen inflation is a significant problem. president biden came into office and began to tackle it immediately. as a result, we are seeing, again, gas prices coming down. 14 straight weeks gas is down about $1.30 a gallon from where it was months ago. so what we ve seen is president biden has taken steps that have brought down costs for people
well. but factory closures, the suspension of production, will have a major economic impact, and it is happening not only in the city of chongqing, but the province of sichuan, a province home to over 80 million people, or high manufacturing of semiconductor it takes place. apple, intel have factories there. all factories are suspended for 6 days. the costs will only add up. back to you, rosie. kristie lu stout joining us live, from hong kong. thank you, as always. we will be rigight back.
Companies face a battle managing supply chain-related issues. On one front, companies are encountering frequent and extensive shipment and delivery delays. Due to COVID-19 pandemic,the 2022 Russian invasion of Ukraine, and supply chain issues: labor shortage, warehouse space
Due to the ongoing global supply chain crisis, companies face an uphill battle managing supply chain-related issues. On one front, companies are encountering frequent and extensive.
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