Economists and analysts are skeptical that a Biden administration push to increase domestic manufacturing will have the White House’s intended effect of meaningfully taming inflation.
Administration officials have said that increasing domestic manufacturing would insulate the U.S. from the kinds of global supply disruptions that occurred during the Covid-19 pandemic and helped fuel inflation, which is at a 40-year high of near 8%, and is poised to see more upward pressure tied to Russia’s war in Ukraine.
