With an economy that is hurting with 5.4% inflation in September, the recent White House press briefing offered little assurance to the public.
The CNN article piece on Tuesday set up Biden’s press briefing to be a watershed moment and clarify how solving the port bottlenecks can mitigate inflation. CNN stated in its article, “…a lot of the price pressure comes from supply chain problems lurking around the world. The White House is stepping in to address some of the supply chain issues, with President Joe Biden meeting with senior officials and stakeholders to discuss efforts to address global transportation bottlenecks. Biden will deliver remarks Wednesday afternoon.”
Unclear Press Briefing?
In Wednesday’s press conference, however, the main concern addressed by Biden was how his team negotiated with Los Angeles Port and its workers’ unions to ramp up 24/7 operations. This, he claims, will clear out some of the delays; in his words, “going to help speed up the delivery of goods all across America.”
There was little context to offer how to limit inflation in the coming months. The president refused to take questions from reporters afterwards. Is this an indication that the president is missing the bigger picture and offered little clarification?
Impact on Economy
Should this be a trend, though, consumers might limit spending and slow down the economy even more, contributing to job losses for small businesses. In this respect, the lockdowns which were implemented in the past months are hurting the economy right now.
Even with the clearance of the supply chain backlogs in the coming months, a clear sign moving forward is that inflation rates might remain. Mostly because the gas prices are increasing, too.
A positive way to help is to patronize local stores and businesses, this will help somewhat keep competing prices at level. This will also help keep community businesses thriving, keeping jobs in the community and helping the local economy.
Twitter Reactions to Inflation
Govt: #Inflation up ONLY 5.4%?— Mo Brooks (@RepMoBrooks) October 13, 2021
Gas UP 40%+
Natural Gas UP 100%+
Chicken UP 60%
USED cars/trucks UP 45%+
Flights UP 25%
Lumber UP 35%
Coffee UP 90%#Socialist #Democrat shutdowns + paying people not to work + trillion dollar deficits = hurting Americans!https://t.co/duVb9FlQQF
JUST IN: #Bidenflation rages on. #Inflation for September came in 5.4% higher than last year, marking the highest increase in 13 years. If you want to avoid the effects of these soaring prices, just don’t use gas… or turn on the lights… or buy clothes… or eat. https://t.co/UfLJyShXED— U.S. Senator Cindy Hyde-Smith (@SenHydeSmith) October 13, 2021