Higher Inflation Creating Pressure on Consumers

President seeks help from the private sector. 

The Department of Labor reported this week that consumer prices increased solidly in September. Americans are now paying more for food, rent, fuel, and many other goods. Prices are expected to continue rising in the months ahead, the report said. Federal Reserve Chair Jerome Powell has asserted that high inflation is transitory. He and the White House blame supply chain bottlenecks for the high inflation. 

The same day of the report, President Joe Biden urged the private sector to help ease supply chain blockages. He said the Port of Los Angeles would join the Port of Long Beach, two of the nation’s busiest, in expanding around-the-clock operations to unload an estimated 500,000 containers waiting on cargo ships offshore. 

The president said Walmart, Target, Samsung, Home Depot, and other big retailers would also expand their overnight operations at the ports to try to meet delivery needs. FedEx and UPS have also been asked to step up their round-the-clock operations to speed the shipment of goods across the country. 

It’s a “big first step” to revamping supply chains across the U.S., the president said, adding that the government would be heavily involved. “If federal support is needed, I’ll direct all appropriate action, and if the private sector doesn’t step up, we’re going to call them out and ask them to act,” he said. 

White House officials have said that Americans may face higher prices and empty shelves this Christmas due to supply chain problems and increasing inflation. 

As the Lord Leads, Pray with Us…

  • For the president to seek God’s wisdom in addressing supply chain issues.
  • For private sector involvement in reducing the enormous backlog of containers waiting to be unloaded. 
  • For officials in the Transportation Department as the trucking and transport of goods is evaluated.

Sources: Reuters, Politico 


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