President Joe Biden has a solution for high inflation that seems counterintuitive: Bring factory jobs back to the U.S. Will it work?
The president then unspooled his thinking that more manufacturing of semiconductors inside the U.S. would lead to more cars and other products being produced domestically. That would fill the supply chain and, in theory, bring prices down.
“Semiconductor manufacturing facilities take years to build,” he said. “Inflation’s here now, and it’s it’s an issue now.” “You don’t need a speech to know what the state of the union is. You feel it every time you go to the grocery store and the gas pump," McCarthy said on Twitter. Many businesses have posted rising profits and 70-year-high profit margins since the pandemic. But executives have also talked openly in earnings calls about raising prices, and then saying the increases were due to inflation. And Lindsay Owens and her organization Groundwork Collaborative have the receipts to prove it. She joined LX News to talk about how many businesses are seeing inflation as a great opportunity to "leave no pricing on the table.
The Biden administration, for its part, is making that exact argument — supply chain disruptions are becoming more common and weighing on prices in ways that companies previously failed to consider.
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