Biden To Speak On Supply Chain And Reiterate Inflation Strategy

14:00ET 19:00GMT: Today President Joe Biden is speaking on supply chain and infrastructure. In recent weeks the White House been increasingly assertive in identifying the supply chain crisis as one of the primary drivers of inflation. The other driver, according the White House, is the global chip shortage spiking the price of new cars.

• In a discussion with private sector CEOs this week Biden claimed that the social care provisions in Build Back Better would help alleviate supply chain problems and ease inflation by allowing Americans return to work.
• Today’s remarks are expected to reiterate this point and firm up the White House strategy for tackling sinking approval ratings by outlining how Build Back Better legislation can address inflation.
• Biden’s approval ratings have slumped since the initial highs of 2021 after perceived successes in the handling of the Covid-19 pandemic. The most widely cited reason for low approval is poor handling of the economy and rising inflation.
• White House: ‘The President delivers remarks on strengthening the nation’s supply chains, revitalizing American manufacturing, creating good-paying, union jobs, and building a better America, including through the Bipartisan Infrastructure Law’.