Another important item on the agenda is a new strain of Omicron.
President Joe Biden is meeting with executives of a number of companies on Monday to discuss ways to solve supply problems during the pre-holiday shopping season, which is overshadowed by the spread of a new variant of the coronavirus.
Against the backdrop of rising inflation, which recently reached its highest level in 31 years, the President has taken a number of measures to eliminate disruptions in supply chains, including by unloading ports and extending the time intervals for trucks to travel on the country’s roads.
The President is also seeking investigations into inflated transportation prices and possibly illegal actions in the oil and gas markets, due to which fuel prices remain high.
On Monday afternoon, he is scheduled to have a personal meeting with the heads of Best Buy, Food Lion, Samsung North America, Qurate Retail Group, Todos, Etsy, Mattel, and Kroger, the Axios news portal reports.
Walmart CEO Doug McMillon and CVS Health CEO Karen Lynch are also expected to attend the meeting and join the conversation in virtual mode.
Biden will make public comments after the meeting, which will take place after the unofficial start of the pre-holiday shopping season – the so-called “Black Friday.”
Earlier in the day, Biden will hear a report from the White House working group on the fight against coronavirus. The briefing will be devoted to the spread of a new strain of omicron.
The World Health Organization on Monday warned that this option is likely to gain international distribution, which creates a “very high” global risk, and spikes in morbidity can have serious consequences in a number of regions.
Meanwhile, last week, the U.S. economy showed favorable dynamics: the number of initial applications for unemployment benefits fell to a 52-year low.
On Monday, global market sentiment stabilized somewhat as investors wait for more detailed information to assess the severity of the threat associated with the new strain. This led to a recovery in stock prices and oil prices.