United States President Joe Biden said during his State of the Union address that the US is the manufacturing capital of the world, with "800,000 new manufacturing jobs in America and counting."
He went on to say that the country has seen a "historic" job growth and small business growth for Black and Hispanic Americans, adding that the racial wage gap is the smallest it has been in 20 years. "Wages keep going up, inflation keeps coming down," Biden stressed, adding that the "landing is, and will be soft."
Biden stated that thanks to the CHIPS and Science Act, the US is investing more in research and development than "ever before." He added that private companies are investing "billions of dollars" to build new chip factories in the US.
