The National Retail Federation today issued the following statement from President and CEO Matthew Shay following the White House’s overnight announcement that a tentative agreement has been reached between freight railroads and rail labor organizations, avoiding a shutdown of the freight rail system. “We are relieved and cautiously optimistic that this devastating nationwide rail strike has been averted. We appreciate the Biden administration’s intervention on behalf of the businesses and consumers who would have been impacted at a time when high inflation and economic uncertainty are challenging consumer budgets and putting business resiliency at risk.