Overview

• Biden administration forms Council on Supply Chain Resilience and announces 30 actions to strengthen supply chains and combat inflation.
• Defense Production Act invoked to invest $35 million in domestic production of essential medicines, aiming to mitigate drug shortages.
• Supply chain actions include creating a data-driven Supply Chain Center with the Department of Commerce and $275 million in grants towards clean energy supply chains from the Department of Energy.
• Supply chain resilience council co-chaired by Lael Brainard, the White House National Economic Council director, and Jake Sullivan, the White House national security adviser.
• Biden warns against price gouging, pledges to lower costs for U.S. families.