President Joe Biden on Monday invoked the Cold War-era measure to boost investment in American manufacturing of drugs and medical supplies he saw as critical to national defense, Reuters reported.

On Monday, Biden touted his administration’s efforts to improve supply chains hit by the COVID pandemic and help keep inflation under control, but acknowledged there is more work to be done.

“We know that prices are still too high for too many things, that times are still too hard for too many families,” Biden said. “But we’ve made progress.”

Biden invoked the Cold War-era Defense Production Act to spur investment in American manufacturing of drugs and medical supplies.

The announcement is part of a series of 30 measures the administration has announced to help industrial supply chains and combat historically high inflation.

According to the White House, Biden authorized the Department of Health and Human Services to use authority under the law to allow investments in “essential medicines.”

Investment areas also include “medical countermeasures,” which include supplies that diagnose, prevent, or treat diseases associated with chemical, biological, radiological, or nuclear attacks.

The federal government will also improve its ability to monitor supply chains by sharing data between agencies. For example, the Department of Commerce has developed new tools to assess supply chain risks and will work with the Department of Energy to explore renewable energy sources.

Biden, who is running for re-election in 2024, is eager to show Americans that he is dealing with inflation and addressing broader concerns about the American economy. Although consumer prices have eased from last year’s peak, polls show inflation remains a political challenge for Biden ahead of the election.