Biden admin ripped over baby formula crisis: We ‘always lead from behind,’ Rep. Donalds says
Rep. Byron Donalds, R-Fla., joined ‘Varney & Co’ to discuss the Biden administration’s handling of the baby formula shortage and the economy.
The national out-of stock rate of baby formula continues to worsen as major U.S. baby formula makers prepare to testify before Congress about what they're doing to combat the industry-wide crisis.
Out-of-stock percentage for baby formula stood at 45% nationwide for the week ending on May 15, according to retail data firm, Datasembly.
BABY FORMULA SHORTAGES WORSEN AMID RECALLS, SUPPLY CHAIN ISSUES
In April, baby formula shortages hit 30% before jumping to 40% at the end of the month, according to Datasembly. By early May, the out-of-stock rate rose to 43%.
"Inflation, supply chain shortages, and product recalls have brought an unprecedented amount of volatility to the category, and we expect to continue to see baby formula as one of the most affected categories in the market," Datasembly CEO Ben Reich said in a statement to FOX Business.