Supply Chain

Supply Chain

The Fed’s Inflation Is behind the Supply Chain Mess

It seems supporters of the Biden administration finally settled on a narrative they like for explaining away supply chain shortages. Here’s the administration’s talking point: the US economy is rolling along so well that Americans are demanding huge amounts of goods. That’s overwhelming the supply chain and causing the backups roiling America’s ports and logistic infrastructure. For example, transportation secretary Buttigieg this month declared “Demand is up … because income is up, because the president has successfully guided this economy out of the teeth of a terrifying recession.” Similarly, White House spokeswoman Jen Psaki told reporters supply chain problems are occurring because “people have more money … their wages are up … we’ve seen an economic recovery that is under...

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