One side effect of the Covid-19 pandemic heading into the holidays: fewer bargains for shoppers.
Industry executives and analysts say consumers should expect to pay closer to full price on a range of products this holiday season, including on Nike sneakers, Coach handbags and Ralph Lauren Polo shirts.
Several factors are behind the dearth of deals, including backed-up supply chains, inflation and steps retailers are taking to price their products more efficiently, executives and analysts say.
For months, the Biden administration has vowed to use every tool at its disposal to curb rising energy prices that are contributing to inflation across the country, but there aren’t many tools available to the White House.
There are “no immediate plans” to tap into emergency reserves or limit energy exports outside the United States, the Energy Department told CNBC. Those are two market levers the executive branch could pull.
Administration officials have suggested privately that a release from the strategic petroleum reserve would have a negligible impact, and curtailing exports would risk angering allies and violating long-term business contracts.