Would more U.S. manufacturing lower inflation?

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Good morning and happy Thursday Money readers. Jayme Deerwester, here with you again.

🗞 News you should know 🗞

“One way to fight inflation is to drive down wages and make Americans poorer,” President Joe Biden said during Tuesday’s State of the Union address. “I have a better plan to fight inflation. Lower your costs, not your wages.” 

Biden proposed making more goods, from as cars to semiconductors, in the United States in order to lower their production costs, which that are then passed on to American shoppers. Doing so would also make U.S. consumers less vulnerable to supply chain bottlenecks abroad, Biden said.  

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