MNI POLITICAL RISK- Key Bridge Collapse Raises Inflation Fears

Executive Summary:

• President Biden yesterday pledged to move, “heaven and earth” to rebuild Baltimore's Francis Scott Key Bridge after it collapsed when a container ship struck a support structure on Tuesday morning.
• The bridge collapse raises concerns that a lengthy salvage and clearing effort could contribute to supply chain snares in the northeast and return of some inflationary pressures, particularly in the automotive sector. It is also unclear how quickly the bridge can be rebuilt – likely to be measured in years rather than months - or what level of support Biden can expect from Congress.
• Independent presidential candidate Robert F. Kennedy Jr. yesterday named Nicole Shanahan as his running mate for the 2024 ticket. The decision enables to Kennedy to pursue ballot access in 23 more states and Shanahan’s wealth could address a shortfall in Kennedy’s campaign finances.
• A Democrat-aligned research group has published a report claiming that former President Donald Trump’s plan to impose a 10% tariff on all imported good would spike prices by up to USD$1,500 annually for American families.
• The Supreme Court appears likely to preserve access to the abortion drug mifepristone, potentially lowering the risk of political fallout for the GOP at the general election.
• Only 35% of Americans now approve of Israeli military action in Gaza, a marked shift from November when 50% of Americans approved of the IDF operation.
• Poll of the Day: Economic confidence in March is largely unchanged from February.

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MNIPOLRISKUSDaily270324.pdf