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Supply chain showing signs ‘the worst is over’: Port of Long Beach director
‘The worst is over’ in supply chain crisis: Port of Long Beach director
Port of Long Beach Executive Director Mario Coredero argues as COVID concerns diminish, ‘definite moderation’ will happen in the supply chain.
The Port of Long Beach’s executive director painted a positive picture for the future of the U.S. supply chain on "Mornings with Maria" Thursday.
"The worst is over in terms of the supply chain," Mario Coredero told FOX Business’ Maria Bartiromo.
"The bright outlook that we hope to see is that the virus exposure continues to diminish," he continued, "and society starts opening up in terms of consumer spending, more on services as opposed to goods."
Coredero said Long Beach and its surrounding ports solved their capacity constraints since operating 24/7 last September when shipping delays and disruptions shook the retail industry.
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"Those numbers are improving," Coredero explained. "And if that continues, then again, we'll see some definite moderation."
Coredero claimed it’s "good news" that other industry leaders are signaling the same optimism. Maersk, the largest international shipping line, said the supply chain is seeing "significant progress" in a press release last week. Coredero also pointed out that the Federal Reserve is prioritizing the issue.