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12 Jan, 2022 13:20

US Chamber of Commerce says what can help tackle inflation

Many industries across the US are currently facing labor shortages
US Chamber of Commerce says what can help tackle inflation

The US Chamber of Commerce has called for doubling the number of legal immigrants into the country, saying that could ease inflation and the worker shortage crisis.

“We need more workers. We should welcome people who want to come here, go to school and stay,” Chamber of Commerce CEO Suzanne Clark told reporters during a press conference on Tuesday. “That is a place the government could be particularly helpful and we do believe it would be anti-inflationary.”

Clark added that bringing in more foreign workers would help to ease the supply chain disruptions that are at the heart of the inflation spike, including the shortage of truck drivers. “If we can alleviate the worker shortage, it might be the fastest thing to do to impact inflation,” she said.

The Chamber’s chief policy officer Neil Bradley added: “We didn’t have a sudden surge in concentration in our supply chains that somehow produced the bottlenecks. When the administration goes to concentration or antitrust or the FTC as the solution, they’re really missing the larger issues that they need to be working on.”

The rapid spread of the Covid-19 Omicron variant is threatening to sharply slow the US economy and increase already-high inflation in the first quarter, economists warned. Many companies are already experiencing greater worker shortages.

For more stories on economy & finance visit RT's business section

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