© Reuters. US President Joe Biden delivers a speech on CHIPS Law and Science at Viasat Inc. In Carlsbad, California, US, November 4, 2022. REUTERS/Mike Blake
By Trevor Honeycutt
(Reuters) – US President Joe Biden touted his economic policies on Friday and said he plans to hold talks with oil companies in an effort to show voters he has boosted the economy, predicting Democrats will win Tuesday’s midterm elections despite opinion polls. Republican gains appear.
On a three-day tour of four states, Biden stopped at Viasat Inc, an American company in Carlsbad, California, to boost his efforts to increase production of semiconductor chips and solve supply chain problems that have arisen. presidency.
With the support of some Republicans, Biden signed the Chips and Science Act in August to boost domestic production of semiconductors in response to slowing production of cars and high-tech products like those made by Fiat.
During his visit to the company, Biden said the latest government jobs report, which shows that the US economy added 261,000 jobs last month, was a sign of progress.
He said he plans to hold talks soon with US oil companies to complain about their record profits at a time when citizens are paying high prices at the pump.
Biden told reporters after the speech that the meeting had not yet taken place, with the White House saying the president was only making clear he was serious about forcing companies to change their behavior.
Biden also declared inflation his number one priority, stressing that he takes Americans’ economic concerns seriously, as voters head to the polls on Tuesday to decide whether he and his Democrats retain control of the US Congress.
“Friends, our economy continues to grow and add jobs, even though gas prices continue to fall,” he said. “We also know that people struggle against inflation.” But he said there are “bright spots” where the country is recovering.
Projections are that Republicans are on the verge of taking control of the House and possibly also the Senate, which would give them the power to block Biden’s legislative agenda for the next two years.
(Reporting by Trevor Honeycutt, Andrea Shalal and Steve Holland; Additional reporting by Daniel Trotta; Spanish editing by Ida Pelaez-Fernandez)
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