: Supply-chain bottlenecks set to be focus of Biden meeting, speech

President Joe Biden is planning to host a meeting Wednesday on supply chains, as disruptions have led to lower world-growth forecasts and threaten to snarl the holiday-shopping season.

Biden, said the White House, “will meet with senior officials and stakeholders to discuss collective efforts to address global transportation supply chain bottlenecks,” as well as deliver remarks afterward.

Wednesday’s planned event is the latest administration effort to address supply-chain disruptions. In late September, auto makers, technology companies and semiconductor producers met with administration officials. The government pitched a program for companies to reveal more information about their supply chains, the Wall Street Journal reported, in an effort to quantify where bottlenecks exist.

Meanwhile, as the pandemic continues to snarl supply-chain channels, MarketWatch reports that major retailers like Home Depot Inc.

and Target Corp.

are chartering ships to deliver goods in time for the holiday season.

Now read: Walmart, Target, Home Depot and other large retailers are chartering ships to bypass supply chain problems. Will the strategy save Christmas?

The White House did not disclose a list of participants for the Wednesday meeting.

The meeting is scheduled a day after the International Monetary Fund lowered its world-economy growth forecast for this year, citing in part supply-chain disruptions in wealthy countries.

Now read: IMF says global economy is losing momentum

This post was originally published on Market Watch

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