Minneapolis Fed Pres.: Supply Chain Crisis Will Not Get Sorted out This Year, Hopefully It Will Be in 2023

EXCERPT:

KASHKARI: "Well, I talked to you know -- one of the things that we're lucky about, we've got the Bakken as you just mentioned, Becky. We also have a lot of global companies here headquartered in Minnesota, that have global supply chains, companies like 3M and Cargill and General Mills, Medtronic, for example. I talked to a lot of them just to understand what's happening around the world. And it's those types of companies that said to me, their supply chains are whack-a-mole, that they put out one fire in this one part of the world, and then something else flares up somewhere else. And so they're constantly having to shift around trying to get things under control. They're the ones who last fall open my eyes and said, 'Hey, it's not going to be in 2022 when supply chains get sorted out, hopefully, it'll be in 2023.'”