The Biden administration will announce a doubling down on measures aimed at bolstering supply chains, in light of inflationary pressures post-pandemic, as reported by Bloomberg Law. This concerted effort, it is believed, has contributed significantly towards alleviating inflation.
New among these measures is the establishment of a White House Council on Supply Chain Resilience. This body, equivalent to cabinet level, will be inaugurated by President Joe Biden on Monday. The council’s primary mandate will be to carry out a four-year review of supply chains, akin to strategic documents similar to those prepared for national defense and homeland security. The first review is scheduled to be completed by the end of 2024.
The administration is hopeful that these efforts will continue to result in lowering prices. Strides made thus far in supply chain progress are already reflected in various sectors, with decreased prices seen in categories ranging from holiday staples such as turkeys, among others.
Further actions include increased funding for clean energy and injectable medicines, as the administration seeks a comprehensive approach to tackling supply chain bottlenecks and inflation surges that have been linked to disrupted supply chains throughout 2022.