The clock is ticking on the next big threat to the US economy

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Tens of thousands of train workers are planning to strike this Friday, which could result in the suspension of roughly a third of all US freight. The strike would be the country's first on rails in thirty years.

The fear of the work stoppage is already having an effect as the time passes. Amtrak intentionally halted service on a few of its long-distance lines. Additionally, due to the strike, railroads have already halted receiving shipments of dangerous goods and other security-sensitive products.

The unions that represent more than 60,000 workers are currently threatening to walk off the job at the end of the week if they can't get specific quality-of-life clauses included in their contracts, which is causing employers to get concerned.

Why are workers angry?

Not your typical union salary dispute, this one. In fact, the pandemic has been a boon for freight railways, who have made record profits.

They're tired of having their personal time taken away, which contributes to a high rate of resignations, leaving teams gravely understaffed. Since the latest contract was completed in 2017, employment at the country's major railroads has decreased by more than 30,000, or nearly 20% of the workforce.

NUMBER OF THE DAY: 13%

Wall Street hasn't exactly had a great year, unless your portfolio is heavily skewed toward fossil fuels. The US dollar, however, stands apart. The US Dollar Index has increased by almost 13% since January, and the value of the dollar is trading close to its highest level in twenty years.

Since a result, it's a terrific time to visit the United States but not so great for American multinational corporations, as the strong dollar lowers the value of their sales and revenues from their international operations.

PEAK INFLATION?

There was a time when the Bureau of Labor Statistics would quietly announce its monthly reading of the consumer price index, and chances are you never saw a single news story about it.

Today, however, there are a million tweets from armchair economists and genuine economists analysing every line of the release. There is also must-watch TV, a breaking news banner, a phone alert, and a tweet from every economist you know.

According to economists, the CPI reading on Tuesday will reveal that prices rose 8.1% in August compared to a year earlier. While this is still historically high, it would be a deceleration from the June high water mark of 9.1%.

The Federal Reserve Bank of New York's monthly survey statistics reveal that Americans now anticipate strong price declines, with the median expectation for inflation over the next three years decreasing to 2.8% from 3.2%. This new insight into the inflation mystery supports the June peak explanation.

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