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The Federal Motor Carrier Safety Administration (FMCSA) has granted a waiver for certain commercial driver’s license (CDL), commercial learner’s permit (CLP), and medical-certification requirements due to the COVID-19 outbreak. The waiver will allow certain drivers to operate with an expired driver’s license and/or medical card until June 30, 2020, if they were unable to renew...

On Monday, March 16th alone, the DJIA closed 2,997.1 points lower, its largest single-day point drop in history. Commodities Crude oil futures in New York, which were trading above $60 per barrel early in the year, approached $20 per barrel this week, the lowest level since 2002. As oil prices have plummeted, concerns about inflation...

Monetary Policy Here are some of the major recent announcements, but this list is far from exhaustive and doesn’t include a growing number of rate cuts by central banks around the world: March 20th: Coordinated central bank action to further enhance the provision of U.S. dollar liquidity “The Bank of Canada, the Bank of England,...

Initial jobless claims in the United States are surging, and are likely to continue to climb: Regional manufacturing reports are coming in well below expectations, which is not surprising: China’s industrial production figures are illustrative (source CME Group): “Chinese industrial production fell 13.5 percent on the year for January and February combined, down sharply from...

Coronavirus brings famine before feast for trans-Pacific container volumes   While Chinese manufacturing and trucking capacity is recovering as workers return from quarantine, the surge of containerized exports being produced threaten to overwhelm some North American ports and inland networks. And with trans-Pacific carriers having aggressively slashed capacity, canceling more than 80 vessels to the...