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Yellen Warns of Challenges From Rail Strike, European Economy

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US Rail Strike Could Cost $2 Billion a Day

Treasury Secretary Janet Yellen said a strike by rail workers would cause a “significant impediment” to shipping goods nationwide and that the US could feel some spillover from a possible recession in Europe this winter.

The White House is leading talks between labor and freight-rail firms that risks a system-wide halt as soon as Friday. The dispute is already triggering protective shutdowns of cargo and some passenger services.