This video was streamed live and recorded on Dec. 2, 2021

The global system of supply and demand is going through some pains with container ships backed up at ports, unexpected shortages in stores - and rising prices. What is going on with the supply chain, for food and other products? What does it mean for the economy and the upcoming holiday season?

Joining us to talk about these issues are two expert economists:

- Katheryn (Kadee) Russ is a professor of economics with expertise in open-economy macroeconomics and international trade. She is a faculty research associate in the National Bureau of Economic Research International Trade and Investment Group and has been a visiting scholar at the central banks of Germany, Portugal and France, and the Federal Reserve banks of St. Louis and San Francisco. She served as senior economist for international trade and finance at the White House Council of Economic Advisers 2015-2016.

- Dan Sumner is the Frank H. Buck Jr. Distinguished Professor of Agricultural and Resource Economics at UC Davis and former director of the University of California Agricultural Issues Center. His work focuses particularly on the consequences of farm, food, and trade policy on agriculture and the economy. Prior to beginning returning to California in 1993, Sumner was the assistant secretary for economics at the United States Department of Agriculture.