New York CNN —White House officials on Thursday hailed the unclogging of supply chains and suggested that further easing of bottlenecks will help cool inflation.
“Critical supply chains are significantly more fluid and resilient than they were when the President took office,” White House officials wrote in a supply chain scorecard shared first with CNN.
The traffic jam of vessels backed up ports, once a symbol of the supply chain crisis, has all but disappeared.
The White House economists said it is a “positive development for consumers” and struck a hopeful tone it will continue.
The blog post said there is a high correlation between producer prices and supply chain pressures, suggesting the easing in supply chain pressure may continue to cool inflation.
Persons:
”, Biden, Biden’s, ” Lael Brainard, ” Torsten Slok, “
Organizations:
New, New York CNN, White, CNN, National Economic Council, Consumers, IRI, Shipping, New York Federal, Apollo Global Management, Defense, EV, White House Council, Economic Advisers, Institute of Supply, Federal Reserve
Locations:
New York, Ukraine