We have inflation because we don’t produce enough in the United States and the war increases the cost of oil

On Friday’s “CNN Newsroom” program, Labor Secretary Marty Walsh urged Congress to pass legislation on manufacturing computer chips in the United States, saying we have inflation because “we don’t make enough products in the United States of America”, and also said inflation was caused by “external factors”. And this factor is “what is happening in Ukraine” with the price of oil.

Walsh said, “We’re in a world — we’re facing inflation today because we’re not — we don’t make enough products in the United States of America, and we have the ability to manufacture computer chips in the United States of America. America, don’t depend on foreign imports for these chips. And criticized Congress for “playing games” on computer chip legislation.

Earlier in the interview, Walsh said, “Inflation is tricky because it’s global. It is not – and there [are] many other external factors. What’s going on in Ukraine with the cost of oil and wheat and stuff, what’s going on with the pandemic, we have supply chain issues, China has been shut down for six months – not six months – China was shut down a few months ago because COVID rates were up there.

Follow Ian Hanchett on Twitter @IanHanchett


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