Biden to Finalize ‘Buy American’ Rule for Government Procurements - WSJ

President Biden is set to highlight during an event Friday at the White House, will mean that products obtained under the “Buy American” program will need to have at least 60% of the value of components made in the U.S., up from the current threshold of 55%.

Watch out Jay Powell, this economy is about to heat up!!!

At the White House event Friday, Siemens USA is set to announce plans to invest $54 million to manufacture components and equipment used in electric-vehicle charging stations and data centers, which it says will lead to the hiring of 300 workers in California and Texas.

Their gross profit last year was $28B and they have a head count of 40,000. This much-trumpeted investment is a rounding error of a rounding error of a rounding error.

Nice to see them continuing to invest, but this is hardly a major decision.