President Joe Biden has signed an Executive Order for speedy implementation of the bipartisan CHIPS and Science Act of 2022 that aims to boost US domestic chip-manufacturing and scientific research.
The sweeping $280 billion law that Biden signed on August 9 is aimed at resolving the acute semiconductor shortage in the United States manufacturing sector and building more resilient semiconductor supply chains.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.