Fall Regulatory Summit

Internal Use Only Global Supply Chain Pressure (Source: Federal Reserve Bank of New York)

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0

-2.5 -2.0 -1.5 -1.0 -0.5

Jul-19

Jul-20

Jul-21

Jul-22

Jan-19

Jan-20

Jan-21

Jan-22

Jan-23

Mar-19

Mar-20

Mar-21

Mar-22

Mar-23

Sep-19

Sep-20

Sep-21

Sep-22

Nov-19

Nov-20

Nov-21

Nov-22

May-19

May-20

May-21

May-22

May-23

FALL REGULATORY SUMMIT Denver, CO – September 25, 2023

Internal Use Only

Topic #3:

2 nd major challenge – tight labor markets!

FALL REGULATORY SUMMIT Denver, CO – September 25, 2023