Biden will be addressing high prices within the next hour, when he is expected to say that one key way to fight inflation will be lowering the cost of moving goods through supply chains.
President Joe Biden on Friday is due to talk again about his administration’s efforts to help Americans deal with high inflation, as he gives a speech at the Port of Los Angeles in which he notes progress in reducing backlogs at that key facility.
In a speech slated to come around 1:45 p.m. Eastern, Biden is expected to say inflation is a global challenge, and the U.S. is the country best positioned to tackle it from a position of strength thanks to his economic policies that have helped the labor market and resulted in more savings and less debt for families, a White House official said.
The president also will underscore how one of the key ways to fight inflation is by lowering the cost of moving goods through supply chains, and that’s why one of his task forces has focused on decongesting the LA port and others, the official added. There are about 40% fewer containers clogging the docks for long periods currently than last November, according to the White House.
Analysts have stressed that Biden’s Democratic Party looks on track for defeats in November’s midterm elections if inflation persists. Americans’ frustrations with soaring prices are helping to keep Biden’s approval ratings low — and providing a talking point to Republicans ahead of the elections.
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