The Federal Reserve last month predicted a 2021 inflation rate of 4.2%, well above its 2% target.
But rising concern among businesses and voters alike leave the administration little choice but to make the effort -- however modest the impact."I would say limited so far," acknowledged Commerce Secretary Gina Raimondo, a key player on Biden's Supply Chain Disruptions Task Force, in an interview.But since Biden created his supply chain task force in June, administration officials have been grasping for any levers they can reach to ease bottlenecks.
Transportation Secretary Pete Buttigieg has focused on slowdowns in getting goods to market.Last month her department issued a 45-day Request for Information about the supply chain from key industry players -- backed by the threat of invoking the Defense Production Act to compel participation from companies that refuse.
RELATED: Biden official reveals the failure behind America's epic chip shortage"There's a lack of transparency and trust in the supply chains," Raimondo explained.