Latest News

Biden invokes Defense Production Act to boost baby formula manufacturing to ease shortage

0
The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022.
Jeff Kowalsky | AFP | Getty Images

President Joe Biden on Wednesday invoked the Defense Production Act to increase baby formula manufacturing to ease a nationwide shortage caused by the closure of a key plant in Michigan.

Biden is requiring suppliers of ingredients used in baby formula to direct those goods to key manufacturers before any other customers.

The president has also directed the Health and Human Services Department and Department of Agriculture to use aircraft from the Defense Department to pick up infant formula from overseas that meets U.S. health and safety standards.

This is breaking news. Please check back for updates.

Melvin Capital says it’s winding down funds and returning money to investors during market turmoil

Previous article

S&P 500 falls again on Thursday, inching closer to bear market territory

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News