Addressing supply chain challenges and raising interest rates to combat inflation

To combat inflation, the administration has focused on two main factors: addressing supply chain challenges and raising interest rates. Supply chain disruptions caused by the pandemic led to price increases, but efforts to restore supply chains have helped alleviate the situation. The Federal Reserve, responsible for price stability, has been raising interest rates to contain inflation. The administration has also taken steps such as releasing oil from the Strategic Petroleum Reserve to make gas more accessible and implementing the Inflation Reduction Act to address structural price issues. These measures have contributed to reducing inflation and ensuring stability in the economy.