The underlying health of the U.S. economy is quite strong and investments being made in manufacturing and infrastructure will help bring inflation down over the longer term, Deputy Treasury Secretary Wally Adeyemo said at the ReutersNEXT conference
conference that the price of gasoline had come down from highs seen over the summer, but prices were still too high overall, and the administration was doing everything it could to ease supply chain pressures.
Investing in ports would help ease backups that drove prices higher during the height of the COVID-19 pandemic, while increasing broadband capacity would boost U.S. competitiveness and exports, Adeyemo said. "Our goal is to really try and make sure that as we bring down inflation, we're also making the investments to make sure the American economy is competitive, not just next year, but in the decades to come."
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