The United Auto Workers (UAW) union is in the midst of an unprecedented "stand-up strike" against the three major US auto manufacturers, presently shutting down US factories in Ohio, Michigan, and Missouri; idling 12,700 union workers; and disrupting other parts of the supply chain. These interruptions come at a time when the industry was just beginning to normalize in the aftermath of the pandemic. Given the scope of affected operations, the economic costs of the strike are high and could well increase substantially if the work stoppages are prolonged and expanded.
Dr. Perryman discusses the Fed's latest actions on interest rates.
The United States now exports more liquefied natural gas (LNG) than any other country. It's a relatively new development, with Australia and Qatar usually topping the rankings in the past. The volume of US exports has surged over the past few years, with major new facilities coming online and strong global demand. While Australia and Qatar volumes have been fairly stable since 2018, US exports have basically quadrupled.
Dr. Perryman discusses the higher than expected August inflation rate and what impact it may have on Fed policy.
On August 30, Hurricane Idalia made landfall as a Category 3 hurricane along Florida's Gulf Coast causing severe wind damage and flooding. The storm continued across Georgia as well as South Carolina and North Carolina as a tropical storm. The human suffering is of paramount importance and should be the primary concern, as well as enormous emotional losses. In addition, the storm will have a significant impact on the economy.
Opioid addiction and overdoses have devasted individuals, families, and communities across the state, nation, and world. The human costs of this health crisis are immeasurable and are the reason that aggressively attacking this crisis is a social and humanitarian imperative. At the same time, there are significant economic consequences and impacts that stem from this massive health issue. The Perryman Group recently estimated the costs of the opioid crisis in Texas in order to provide a perspective on the magnitude of these negative effects.
Although there are clearly challenges facing the global economy, the outlook for Texas remains largely favorable. Looking within the state, projected growth across all the entire spectrum of diverse metropolitan areas is also positive, though the pace of expansion varies notably. Let's take a quick look at some of our latest projections for the next five years.
The world's need for energy is growing, even as the climate is changing. The only answer to meeting future needs is an 'all of the above' strategy, with responsible use of conventional fuels as well as alternative sources of energy. In this issue, key trends and projections are highlighted.