In order to combat baby formula shortage caused by Abbott Nutrition's voluntary recall, President Joe Biden has announced a set of additional actions.
To ensure that U.S. manufacturers have the necessary ingredients to make safe, healthy infant formula, the President is invoking the Defense Production Act. He is requiring suppliers to direct needed resources to infant formula manufacturers before any other customer who may have ordered that good. Directing firms to prioritize and allocate the production of key infant formula inputs will help increase production and speed up in supply chains.
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Political News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.