If union workers from 36 East Coast and Gulf Coast ports fail to reach an agreement and decide to strike after midnight Tuesday, it will likely trigger supply shortages and rise in consumer prices.

If the International Longshoremen’s Association initiates a strike, it would mark the first such action since 1977.

These ports manage about half of all U.S. ocean imports, including essential goods like food, clothing, auto parts, vehicles shipped in containers, and holiday gifts.

Learn more in an article by my colleague, Medora Lee.

Financial Changes Impacting Consumers

Rising taxes and decreasing interest rates are set to impact consumers significantly. The Federal Reserve’s recent reduction in interest rates will affect savers accustomed to higher returns. Additionally, the imminent expiration of Trump-era tax cuts at the end of next year will influence people’s finances.

Medora Lee reached out to several financial advisors for guidance.

🍔 Today’s Special 🍔

Attention Shirley Temple enthusiasts! 7Up has announced the launch of a special Shirley Temple flavor for this holiday season.

About The Daily Money

The Daily Money brings you top-notch consumer and financial news every weekday from YSL News. We simplify intricate topics, offering a quick summary and detailing how various events, from Federal Reserve rate adjustments to bankruptcies, may affect you.