Despite pandemic bottlenecks to supply chains, “packages are moving” and “shelves are not empty”. Joe Biden breathes a sigh of relief and assures that the administration will continue to take all necessary measures to unblock supplies so that the effects are also felt on inflation.
Meanwhile, the high prices did not stop the Americans: also in the third quarter they confirmed the engine of the economy, allowing the GDP to grow more than expected and score a + 2.3%. Inflation remains “my priority, the priority of the entire administration,” says Biden, aware that supply difficulties will continue into 2022 and that there is no magic bullet to unblock the situation.
That the emergency is serious is clear in the United States and beyond: faced with a shortage of French fries, McDonald’s has been forced to cut portions in Japan, where it imports them from Canada. Between Christmas and New Year, his famous French fries in medium or large format will not be available: only the small ones can be purchased so that everyone can continue to enjoy one of his most requested products.
“The ports will receive up to 200 million in aid to unblock the bottlenecks that block the supply chain”, explains the president convinced that it is necessary “to produce more things in the United States” in order to avoid a repetition of the current situation and the consequent gallop. prices, followed with particular attention by the Fed.
To cope with the surge in inflation, the central bank has launched an acceleration of the process of reducing asset purchases so that it closes a few months earlier, allowing the Fed greater flexibility on rates in the event of a further price flare.