December 1, 2021
By Nandita Bose and Trevor Hunnicutt
Washington (Reuters) -President Joe Biden said Wednesday that price increases and product shortages would alleviate as the United States approaches the holiday season facing new threats from the Omicron COVID-19 mutant. promised.
Strong demand for commodities has increased the economic capacity of the economy still working on the new coronavirus pandemic, causing inflation and political risks for the Democratic president.
“We can’t promise that everyone will receive all the gifts they want on time. Only Santa Claus can keep that promise,” Biden said. “But we’re heading for the holiday season in a very strong way,” he said, believing that the store shelves were in stock.
New data on Wednesday show an increase in US manufacturing activity and employment, but show a continuing shortage of raw materials, labor and finished products, contributing to higher consumer prices. The widespread recruitment process is scheduled for Friday.
The Democratic president, who spent the weeks following his inauguration in January pushing for stimulus to increase demand, has been working in recent months to eliminate harbor log jams and lower prices for goods from meat to gasoline. I was able to do it.
Currently, variants of Omicron COVID are raising concerns that demand will slow and the unemployed may remain home.
Biden said Thursday that he would announce new measures to control the outbreak, but not include the kind of closures or blockages that pushed the US economy into recession last year.
Biden also said that tight supplies are common during the holiday season, such as the shortage of cabbage patch kids in the 1980s and Beanie Babies in the 1990s.
(Report by Nandita Bose and Trevor Hunnicutt, edited by Franklin Paul and Andrea Ricci)
No Santa or Grinch: Biden promises in-stock shelves for Christmas
Source link No Santa or Grinch: Biden promises in-stock shelves for Christmas