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The Guardian - US
The Guardian - US
World
Edward Helmore

Biden plans to use cold-war era law in attempt to lower US prices

A man looks at canned goods in a grocery store
According to Bloomberg, groceries and electricity are up 25%, used-car prices have climbed 35%, auto insurance 33% and rent roughly 20% since January 2020. Photograph: Brandon Bell/Getty Images

The White House has announced it plans to use a cold-war era law to ease supply chain issues that the administration argues are contributing to higher inflation – a key electoral challenge to Joe Biden’s re-election chances next year as polling consistently suggests voters are not buying his Bidenomics pitch.

In a statement, the White House said Biden will use the Defense Production Act to improve the domestic manufacturing of medicines deemed crucial for national security and will convene the first meeting of the president’s supply chain resilience council to announce other measures tied to the production and shipment of goods.

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