NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — Creighton University economist Ernie Goss said there are still supply chain issues out there even as the rest of the economy tries to get back to normal after the COVID-19 pandemic.
"We asked supply managers about the biggest risk factor going forward, and over and above, by a large degree, almost 40% said supply chain disruptions were the big issue," Goss said. "Now, of course, this is even without the longshoreman strike, which is coming up again in January, they pushed it out to January, past elections, that's 17 East Coast and Gulf Coast ports."
Goss also has concerns about the federal government continuing to borrow and spend.
"We've had several years since the pandemic of overspending by the federal government, and we're going to have to pay the price for that, and also overstimulation by the Federal Reserve," Goss said. "Now we're seeing some of the outcomes of that where they raised interest rates, but early on they actually increased the money supply, and that was a big stimulus. Now we've got to pay the price, and that's, unfortunately, looking into 2025, that's not that good."
It's not that he thinks the spending habits of the federal government will change at all.
"We're just seeing there's no appetite out there, even among the public, to cut the debt," Goss said. "That's not going to happen."
It remains to be seen if the election results from Tuesday have an impact on the larger policy direction of the country, and if so, in what direction.