Biden touts progress on alleviating supply chain problems: 'Shelves are not empty'

President Joe Biden on Wednesday touted progress his administration has made in alleviating supply chain issues that have spurred shortages of consumer products, raised prices for Americans and contributed significantly to historic levels of inflation in the United States.

"We brought together business and labor leaders to solve problems and the much-predicted crisis didn't occur. Packages are moving, gifts are being delivered and shelves are not empty," Biden said at the White House.

Biden on Wednesday received a progress report from members of his Cabinet and private sector CEOs on efforts to tackle supply chain issues, lower consumer prices and keep shelves stocked amid the holiday season.

The meeting comes as the Omicron variant threatens to put renewed pressure on global supply chains that were thrown into chaos amid the pandemic -- something the administration says it is watching closely.