The shipping giant is worried that inflation and the looming worries of a recession will bring a global slowdown in purchases and package deliveries.
U.S. shipping giant FedEx is echoing a sentiment from other large companies as persistent inflation, and Fed policy rate hikes signal the possibility of an impending recession.
Companies like FedEx are preparing for a slowdown in consumer discretionary spending, which means there could be a slowdown in package deliveries.The company says customers should expect higher rates on its Ground and Express services starting in 2023.The company will also impose a shipping rate hike on its Freight service as well which could have a direct impact on the cost and availability of consumer goods.
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