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Biden responds to supply chain crisis, urges private sector to 'step up'
Supply chain delays, inflation cause of concern for consumers
Capitalistpig hedge fund manager Jonathan Hoenig joins ‘Kennedy’ to discuss the U.S. supply chain crisis ahead of the holiday season
President Biden called Wednesday for private sector businesses to "step up" and assist his administration’s latest push to address a supply chain crisis that has sparked fears of empty shelves during the critical holiday shopping season.
Biden’s push coincided with the White House’s announcement that the Ports of Los Angeles and Long Beach will shift to 24/7 operations to clear a cargo backlog. Several prominent retailers and logistics companies, including Walmart and UPS, have agreed to extend their hours of operation in response to supply chain disruptions.
"We need the rest of the private sector chain to step up as well," Biden said. "This is not called a supply chain for nothing. This means terminal operators, railways, trucking companies, shippers and other retailers as well. Stretching our supply chain will continue to be my team’s focus."
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