WASHINGTON — At least once a week, a team of President Joe Biden’s top advisers meet on Zoom to address the nation’s supply chain crisis. They discuss ways to relieve backlogs at U.S. ports, ramp up semiconductor production for struggling automakers and swell the ranks of truck drivers.
The conversations are aimed at one goal: taming accelerating price increases that are hurting the economic recovery, unsettling American consumers and denting Biden’s popularity.
An inflation surge is presenting a fresh challenge for Biden, who for months insisted that rising prices were a temporary hangover from the pandemic recession and would quickly recede. Instead, the president and his aides are now bracing for high inflation to persist into next year, with Americans continuing to see faster — and sustained — increases in prices for food, gasoline and other consumer goods than at any point this century.
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