Biden Calls for ‘Long Term’ View on Economy as Inflation Soars to 31-Year High

President Joe Biden spoke to the nation’s increasing rate of inflation amid global supply chain issues in an address at the Port of Baltimore on Nov. 10. An earlier Labor Department report shows that in the 12 months through October the consumer price index surged 6.2 percent, the largest year-on-year increase since November 1990. And the ports of Los Angeles and Long Beach are continuing to sort through a container logjam and long lines of ships waiting at anchor to dock. But Biden says his administration is “set to make significant progress” in addressing these issues. On Tuesday, the White House announced billions in near-term investments to United States’ ports. These include a list of grant funding opportunities, as well as $8 million for the port of Savanna, $4 billion for U.S. Army Corps of Engineers projects at ports, and $3.4 billion in upgrades for border inspection facilities meant to …