(Reuters) – President Joe Biden wants to combat U.S. inflation, which recently reached a 31-year-high. He is attempting to erode his popularity by attacking supply chain logjams. The White House is calling them “pandemic profiteers.”

Biden has an uphill battle, because there is simply no magic bullet https://www.reuters.com/world/us/republicans-blame-biden-inflation-are-they-right-2021-11-01 a president can use to cure inflation, economists say. Inflation fears that are “de-anchored” or not tied to reality will be more difficult to overcome the longer they remain high.

Supply chain experts said measures like keeping ports running 24 hours a day will help get more goods onto retailers’ shelves, but warn https://www.reuters.com/world/us/us-supply-chain-too-snarled-biden-christmas-fix-experts-say-2021-10-14 that disruptions could last well into 2022. Treasury Secretary Janet Yellen https://www.reuters.com/business/yellen-expects-inflationary-pressures-ease-by-second-half-2022-2021-10-29 and the Federal Reserve https://www.reuters.com/business/inflation-wage-data-challenge-fed-transitory-narrative-2021-11-01 have repeatedly said this year that they believe inflation is transitory.

OIL RELEASES

Frustrated by the refusal of the Organization of the Petroleum Exporting Countries and Russia to boost production, the Biden administration is urging China and other oil-consuming nations to consider releasing crude stockpiles https://www.reuters.com/business/energy/exclusive-us-asks-big-countries-coordinate-releases-oil-reserves-sources-2021-11-17to lower global energy prices.

China and other nations are exploring the possibility of releasing oil strategically stored in their reserves as a response to rising prices. Japan and South Korea however, said that this is not possible.

OIL COMPANY INVESTIGATIONS

Citing mounting evidence that anti-consumer behavior by oil and gas companies is keeping fuel prices elevated, Biden this week asked the Federal Trade Commission, an independent agency, to dig deeper into possible “illegal conduct” in the market https://www.reuters.com/business/energy/biden-asks-ftc-redouble-probe-possible-illegal-conduct-by-oil-gas-companies-2021-11-17.

In August, the FTC initiated an initial investigation. However, such investigations rarely yield results because it is difficult to prove collusion. According to consumer advocates, Lina Khan (the progressive chair) of the FTC could use additional authority granted by a 2007 energy law in order to pursue oil and gas companies.

SHIPMENT FEE PROBE

The Biden administration in July asked the Federal Maritime Commission to investigate https://www.reuters.com/business/cop/us-regulator-expects-find-abuses-shipping-amid-supply-chain-woes-2021-11-02 excessive shipping fees, and on Thursday urged the independent agency to consider challenging the ocean carrier alliances https://www.reuters.com/article/supply-chain-usa-shipping-idINKBN2I22K0 that dominate global shipping if their actions resulted in unreasonable costs or delays.

The law does not apply to shipping alliances. However, the White House stated that the Commission can take action against them if they cause unreasonable delays, higher costs or substantially less competition.

UNCLOGGING POTS, EXPANDING TRUCKER HOURS

Biden also worked with unions and ports to make operations at the Ports of Los Angeles and Long Beach run 24/7 https://www.reuters.com/video/watch/idOVEYZZLY7, which has increased goods movement there. He enlisted big retailers https://www.reuters.com/world/us/biden-cite-progress-unsnarling-supply-chain-meeting-with-labor-industry-2021-10-13, including Walmart (NYSE:) and Target (NYSE:) To help you move more goods.

In addition to some $17 billion earmarked for ports in the recently enacted infrastructure law, the White House announced immediate investments https://www.reuters.com/world/us/white-house-looks-move-quickly-17-bln-revamp-us-ports-2021-11-09 to alleviate congestion at Georgia’s Port of Savannah by building five pop-up container yards.

Still, delays are caused by a shortage of truck drivers. In support of the emergency supply, the Transportation Department increased driver hourly work limits on September 1.

PROBE FOR MEAT PROCESSING

Biden also targets the four meat processors that dominate the U.S. market. Officials from the White House have promised to crack down on price fixing in the sector and allocated $1.4 billion in COVID-19 funds for workers and small producers of meat. https://www.reuters.com/business/biden-administration-plans-tougher-action-rein-meat-prices-2021-09-08

Untapped MEASURES

Easing tariffs on hundreds of billions of dollars of Chinese imports could also have a “disinflationary” effect https://www.reuters.com/business/yellen-says-reciprocal-lowering-tariffs-could-help-ease-inflation-2021-11-01, Treasury Secretary Janet Yellen told Reuters earlier this month.

She said that U.S. officials have been pressing China to honor its promise to purchase $200 billion more American goods and services as part of the bilateral U.S.-China Trade Agreement. This is before any considerations to reduce tariffs.

Biden may also be able to use the authority he has under the 2015 budget bill, to declare an immediate emergency to limit or stop the export of oil for up to one year. Or ask the Commodities Future Trading Commission (CFTC) to review position limits set under Dodd-Frank’s financial reform legislation. These actions are considered long shot.