President Joe Biden has a solution for high inflation that seems counterintuitive: Bring factory jobs back to the U.S.
This challenges a decades-long argument that employers moved jobs abroad to lower their costs by relying on cheaper workers. The trend contributed to the loss of 6.8 million U.S. manufacturing jobs since 2000, but it also translated into lower prices for consumers and put downward pressure on inflation in ways that kept broader economic growth going.
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