On The Money – Chains You Can’t Believe: Biden Faces Supplies Grunts

On The Money – Chains You Can’t Believe: Biden Faces Supplies Grunts

The White House sought to demonstrate that administration officials are tackling the supply chain disruptions head on with Wednesday’s announcement that the Port of Los Angeles, as well as FedEx, UPS and Walmart, will rev up operations to 24 hours a day, seven days a week. Biden also delivered a speech detailing the efforts. Snags and shortages in the global supply chain are creating steep challenges for President BidenJoe BidenHouse votes to raise debt ceiling On The Money — House kicks debt ceiling standoff to December Overnight Health Care — Presented by The National Council for Mental Wellbeing — Progressives: Medicare benefit expansions ‘not negotiable’ MORE at a time when he’s already grappling with low approval ratings and major hurdles to getting his economic agenda through Congress. The supply chain bottlenecks — such as chip shortages and a resulting lack of new cars on the market — are largely due to the enduring stress on the global economy sparked by the COVID-19 pandemic more than 18 months ago. They now threaten to disrupt the holiday shopping season.

Let’s get to it. For The Hill, I’m Sylvan Lane. Write me at slane@thehill.com or @SylvanLane. You can reach my colleagues on the Finance team Naomi Jagoda at njagoda@thehill.com or @NJagoda and Aris Folley at afolley@thehill.com or @ArisFolley.

White House scrambles to avert supply chain crisis But first, check out how cheap certain political Halloween costumes have become.

Alex Gangitano breaks it down here. Biden’s game plan: The president on Wednesday vowed to call out companies that don’t step up and address the global supply chain bottlenecks, urging support from the whole private sector. “And Republicans don’t much care whether Biden’s economic plan would expand supply or even if it has nothing to do with prices at all. If something unpopular is happening, they will say it is because of the president,” he added.

Goolsbee said Biden’s moves to expand port capacity are “important and correct” but will only ease the problem, not fix it. “Certainly this is a danger point for the administration. Whatever the cause of the bottlenecks, the public has not been overly patient with these kinds of problems in the past,” said Austan Goolsbee, economics professor at the Chicago Booth School of News who served as chairman of the Council of Economic Advisers (CEA) under former President ObamaBarack Hussein ObamaMcAuliffe, Youngkin in dead heat: poll McAuliffe brings in big guns as Democratic worries grow over Virginia Is the Biden administration afraid of trade? MORE.

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