CHICAGO (CBS) – President Joe Biden talks about inflation in Illinois.
Tim McNichalas of CBS 2 reports from the Kankakee exhibition with a summary his visit to a farm in that town on Wednesday.
The president said he wanted to increase supplies by cutting red tape for farmers, expanding crop insurance and increasing competition among beef, pork and poultry producers.
Before his performance, he visited the family farm in Kankakee. The president arrived on the farm hours after a new U.S. Department of Labor report showed that inflation had risen in April. This is a smaller increase than last month, but inflation remains almost the fastest in 40 years.
President Biden said the war in Ukraine had exacerbated the problem and created problems in global nutrition.
“Ukraine says that they now have 20 million tons of wheat in their bins. Twenty million tons. And guess what? If these tons do not enter the market, many people in Africa will starve to death, ”Biden said.
And at the Kankaki fair, Trump supporters gathered to protest against the president’s visit.
The White House is also facing challenges when it comes to rising fertilizer costs. Whatever the decision, farmers hope it will come soon.
An economist at the University of Chicago said that in order to return food prices to normal inflation, he believes it will take at least a 10% increase in production. To bring down gas, housing and other costs, you need to work even harder.