The story of never-ending PS5 and Xbox Series X stock shortages is getting a new character: President Joe Biden. The recently-elected commander in chief is expected to sign an executive order starting an investigation into solving the root issues.
As the Wall Street Journal reports, "The executive order calls for a 100-day review of supply chains for four areas." Those include the "semiconductors, used in products from cars to phones," and of course, the hard-to-find PS5 and Xbox Series X.
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The investigation isn't just looking into computer chips. National security is also on the table, as the Journal reminds us that neodymium, one of the resources in short-supply, "is needed for the solid-state lasers used to designate missile targets."
Senators Marco Rubio (R-FL) and Chris Coons (D-DW) praised the investigation, but are pushing President Biden to push our own companies harder if necessary. Their letter asks that the president "incentivize or, if necessary, require American companies to retain their domestic capacities during this time."
In a letter to President Biden, dated February 18, a group of 17 organizations (including the U.S. Chamber of Commerce) framed the investigation as a matter of national urgency.
The letter explains that "Semiconductors play a critical role in enabling the products and services that fuel our economy, contribute to American innovation, and enhance our national security. Given the central role of semiconductors, strengthening the U.S. position in semiconductor research, design, and manufacturing is a national priority."
Hopefully, this means the PS5 and Xbox Series X stock shortages issue ends in the near future. Sony's Jim Ryan addressed the issue in an interview this week, promising "relentless" action to "increase production."
