After a record year of freight demand in 2021, carriers playing in the spot market benefited from a blank check when naming rates. The federal stimulus enabled consumers to pay off a mountain of credit card debt and, with cash to spare and little else to do, they turned to online shopping and ramped up spending on durable goods such as furniture and home appliances.
Meanwhile, capacity was quite limited. Many carriers had exited the industry during the most recent downturn in 2019, while others...
https://www.freightwaves.com/news/when-and-by-how-much-will-shippers-shift-to-the-spot-market