U.S. firms face rising costs, labor shortages amid supply chain disruptions: Fed survey--China Economic Net
U.S. firms are facing rising costs and labor shortages amid supply chain disruptions, according to a Federal Reserve survey released on Wednesday. "Several Districts cited the positive effects on the economy of increased vaccination rates and relaxed social distancing measures, while they also noted the adverse impacts of supply chain disruptions," the Fed said in its latest survey on economic conditions, known as the Beige Book, based on information collected from its 12 regional reserve banks. "It remained difficult for many firms to hire new workers, especially low-wage hourly worker...