Free Trial

Dem Sen Says Congress May Intervene To Stop Railroad Strike After Biden Plea

US

Senator Ben Cardin (D-MD) states that there could be Congressional intervention to avoid a planned railroad strike ahead of the 9 December deadline following a plea from President Biden last night, saying in a statement, "Let me be clear: a rail shutdown would devastate our economy. Without freight rail, many US industries would shut down.”

  • Cardin: "This is an urgent issue and I think both Democrats and Republicans want to get it done. So I'm hopeful we'll find a way to get it done expeditiously."
  • Cardin: "I think it's a national security issue, whether it's supply chain issues. Whether it's the type of material that they transport. It's the security of our nation. Our economic security, as well as our our health security. So yes, I think this is an urgent issue and Congress needs to step up. We don't like to do this. We'd rather see the parties do with through labor negotiations. But at this point, there's no other alternative."
  • The Biden administration has warned that a strike could push up inflation and do lasting damage to the US economy over the Christmas period. A cooling off period between unions and railroad firms ends next Friday 9 December.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.