The increase could also be somewhat attributed to students returning to campus and more workers returning to offices following COVID-19 pandemic restrictions.
The positive signs, however, have not changed the concerns of those who continue to see issues with the nation’s supply chain entering the fourth quarter of the year.
“After weeks of negotiation and working with my team and with the major union and retailers and freight movers, the Ports of Los Angeles—the Port of Los Angeles announced today that it’s going to be—begin operating 24 hours a day, 7 days a week,” Biden announced.
“This follows the Port of Long Beach’s commitment to 24/7 that it announced just weeks ago,” he added.
Biden called the effort a “first key step” to improving the nation’s supply chain.
The president’s speech also announced the expansion of shipping companies to meet the growing demands.
“Additionally, FedEx and UPS, two of our nation’s biggest freight movers, are committing today to significantly increase the amount of goods they are moving at night. FedEx and UPS are the shippers for some of our nation’s largest stores, but they also ship for tens of thousands of small businesses all across America,” he added.
The changes should help, but inflation continues to serve as a concern for the economy.
White House Press Secretary Jen Psaki said Wednesday inflation has “decelerated” by 50 percent in recent months.
“We’ve seen a decrease over the course of time,” she told reporters. “Over the second and third quarter of this year, monthly inflation increases have actually decelerated.”
The rate of inflation may be slowing from previous reports, but it has not ended.