Biden policies ‘dramatically’ impacted supply chain crisis, inflation: Fmr. McDonald's USA CEO
Ed Rensi argues supply chain crisis has been ‘exacerbated’ by Biden’s policies
Former McDonald's USA CEO Ed Rensi argues the supply chain crisis has been 'exacerbated' by Biden’s policies and the coronavirus pandemic.
Former McDonald's USA CEO Ed Rensi told FOX Business’ "Mornings with Maria" Friday that Biden’s policies are "dramatically" impacting the supply chain crisis and inflation.
SUPPLY CHAIN SNARLS, LABOR SHORTAGE SLOWING ECONOMIC GROWTH, FED'S BEIGE BOOK SAYS
ED RENSI: I first experienced this back during the 70s, up into the 80s when we had stagflation, where prices of fuel [were] going up like crazy. Transportation was limited. Distribution was limited. We had to raise prices. We had to address our opening and closing schedules in restaurants modified to menus, and we're going through it again.
It's been exacerbated clearly by COVID. But it's also been impacted dramatically by the policy changes that President Biden made even before he was inaugurated. When he said he's going to shut down oil, shut down the pipelines, move away from fossil fuel.
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Former McDonald's USA CEO Ed Rensi provides insight into restaurants feeling the impact of the supply chain crisis and inflation.