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Mining expert Rich Nolan warns rail strike would 'greatly damage' US economy: 'There's a lot at stake'

National Mining Association president and CEO Rich Nolan discussed the magnitude of a potential rail strike Monday, telling “Mornings with Maria” it would interrupt the flow of commodities that go into products and goods for the everyday American consumer.

RICH NOLAN: I think there’s a process underway which the president [Biden] negotiated with the unions. They’re in a question-and-answer period. Then followed by voting for 21 days which will push this well past the midterm elections but we as the largest user of the rail system remain extremely concerned about the potential impact of a strike. 

RAILROADS VS. UNIONS: WHAT’S NEXT AND WHY THE STRIKE THREAT ISN’T OVER

We represent about 45% of the tonnage hauled on U.S. railways, so there’s a lot at stake here. We’re entering an environment of sustained inflation. There’s a lot of pressure for inputs across the board and a strike right now would greatly damage the U.S. economy just as we head into the holiday as they duck past the midterm elections, so we’re very concerned about where this is heading. 

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