U.S. Economic News

April 12, 2021

U.S. News

Bloomberg reports that top Biden administration officials will hear today from more than a dozen CEOs of companies grappling with the sharply constrained global supply of semiconductors. While the White House has previously communicated that there is no short-term fix for the shortage, the meeting today signals that the administration is serious about confronting supply chain issues and improving supply chain resilience. Bloomberg

Bloomberg highlights that the Labor Department’s most recent report on producer prices includes a “below-the-radar” data point – the sharpest monthly spike since 1974 in processed goods for intermediate demand. Costs for these inputs – which include materials like steel and plastics – were 12.5% higher in March than year-ago levels and partly reflect a strengthening of demand as the economy revives. Bloomberg