Daily Management Review

Fed expects persistent semiconductor shortage


The US has failed to make meaningful progress in fixing supply chain problems created by the coronavirus pandemic.

Because of this problem, semiconductor shortages will persist until 2023, US Federal Reserve (Fed) chief Jerome Powell said on Wednesday.

"Overall, we haven't made progress and problems such as the semiconductor shortage will persist for quite some time. In my view, they will persist beyond 2023," Powell said at a press conference, commenting on the current administration's efforts to rebuild supply chains.

The US Federal Reserve chief added that progress on other aspects of the supply chain problem is expected in the second half of this year, but it will not be possible to fully restore them by the end of 2022.

source: cnn.com