CARLSBAD, Calif., Nov 4 (Reuters) – U.S. President Joe Biden, fighting to show disillusioned voters that he has improved the economy, reviewed his economic forecasts on Friday and said he planning negotiations with the oil industry, as he predicted that the Democrats would win. in Tuesday’s midterm elections despite polls showing a Republican advantage.
In a three-day, four-state campaign, Biden stopped short of Viasat Inc. (VSAT.O), a U.S. telecommunications company in Carlsbad, California, to try to increase production of semiconductor chips and solve supply problems that started early. its president.
With some Republican support, Biden signed into law in August the Chips and Science Act to start domestic semiconductor production in response to the rapid growth of cars and high-tech products like those built by Viasat.
On Viasat, Biden said the latest government jobs report showing the US economy added 261,000 jobs last month is a sign of progress.
He said he planned to hold a “come to the Lord” meeting with the US oil industry soon to protest their record profits at a time when Americans are paying the bills. surface and pump.
The meeting has not been scheduled, Biden told reporters after the speech, and the White House said the president is making it clear that he wants to force companies to change their behavior.
Biden announced that inflation is his number one priority, insisting he takes America’s economic concerns seriously as voters head to the polls on Tuesday to decide whether he and the Democrats remain in power. US Congress.
“Folks, our economy continues to grow and add jobs even as fuel prices continue to drop,” he said. “We also know that folks are struggling with inflation.” But he said there were “bright spots” where the country was recovering.
Forecasts show that Republicans are poised to take over the US House of Representatives and possibly the Senate, which would give them the power to block Biden’s legislative agenda over the next two years.
Members of the White House historically lost control of Congress during the first half of a new president’s term.
However, Biden said he thinks Democrats can stop the process this time. “We will win this time. I feel good about our chances,” he said, adding Democrats have a good chance to win the House of Representatives.
Biden’s campaign will culminate in a joint rally in Philadelphia with former President Barack Obama on Saturday.
The Democrats’ electoral hopes have been undermined by voters’ concerns about high prices, and Biden’s public approval rating has remained below 50% for more than a year, coming in at 40% in a Reuters/Ipsos poll and recently.
Biden has warned of what Democrats say is a threat to US democracy posed by Republicans who support former President Donald Trump.
Commentary by Trevor Hunnicutt, Andrea Shalal and Steve Holland; More information Daniel Trotta; Editing by Kim Coghill and Josie Kao
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