Biden pledges to tackle monopolies, supply shortages as prices rise

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By Andrea Shalal and Trevor Hunnicutt

CLEVELAND, May 27 (Reuters) – President Joe Biden pledged on Thursday to root out anti-competitive business practices and ease construction materials shortages and transportation backups that are causing price hikes across the country.

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“In the coming weeks, my administration will take steps to combat these supply pressures, starting with the construction materials and transportation bottlenecks, and building off the work we’re doing on computer chips,” Biden said in a speech at Ohio’s Cuyahoga Community College.

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“We’re also announcing new initiatives to combat anti-competitive practices that hurt small businesses and families.”

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