As the world enters uncharted territory with the global pandemic, sudden rise of new variants, widespread uncertainty, and country-wide shutdowns, a group of New York Fed researchers has developed a new index to measure the critical factors underlying all global economic activity—supply chains.
The record-high supply chain pressures that have led to high prices, product shortages, and four-decade-high inflation in the United States may have begun the process of easing down, according to the new Global Supply Chain Pressure Index (GSCPI) released by Gianluca Benigno, Julian di Giovanni, Jan J. J. Groen, and Adam I. Noble.
