BIDEN COMMENDS THE MOVE President Biden on Friday commended Intel’s $20 billion investment to build chip factories as a tool for the U.S. economy to recover from the COVID-19 pandemic. “During this pandemic, your pocketbooks felt the consequences. Inflation, higher prices,” Biden said in remarks at the White House, adding that COVID-19 has compounded problems with chips so products like cars and dishwashers are delayed and demand is high. “Because supply is low, we find ourselves in a position where we’re really behind the curve. Prices are going up,” he added. Intel’s investment aims to boost production to help meet demand for semiconductors amid a shortage of computer chips worldwide. “My administration’s going to keep using all the tools we have to re-shore our supply chains, strengthen our economic resilience, and make more in America,” Biden said. “Because at the end of the day, this is about national security, economic security, and it’s about jobs. Good paying, decent jobs you can raise a family on.” Read more about Biden’s comments here. |
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