Jan. 24 (UPI) — President Joe Biden will meet on Monday afternoon with members of his administration to examine various avenues to lower prices for working American families, the White House said.
Since he took office a year ago, Biden has been plagued with record-high inflation and supply bottlenecks that have pushed up costs of some goods. Both are a direct result of the COVID-19 pandemic.
Biden will meet with several members of his administration to search for ways to bring costs down. The meeting is scheduled for 5 p.m. EST.
Earlier this month, the Labor Department said that U.S. inflation rose in 2021 at the fastest rate since 1982.
Despite the troubling economic indicators, Biden has said recently that there are signs of progress to be found and that his administration will do everything possible to stimulate the economy.
“In July, I signed an executive order to promote competition and build an economy that works for everyone,” Biden said in a tweet Monday.
“This afternoon, I’ll be meeting with members of my competition council to discuss our progress on lowering costs for working families and how we can accelerate our efforts.”
Biden touted the bipartisan infrastructure law that passed last year and said it will address some of the supply chain issues that have pushed prices higher.
“When we move stuff faster through ports, when bridges don’t have weight restrictions, when there’s less traffic on our roads — that’s how we resolve supply chain problems and get goods to people quicker and cheaper,” he tweeted. “The bipartisan infrastructure law is helping make it happen.”
