There is nothing in his statement that is technically incorrect.
"The inability of law enforcement authorities to access data from electronic devices due to powerful encryption is an “urgent public safety issue,”" This is very much true. Metadata analysis can only take you so far.
"while saying that a solution is “not so clear cut.”" Hell yeah, there really is no solution
Some people use the [flawed] analogy of a safe. the FBI can either crack a safe, or burn through the door to get at the contents if you refuse to open it under judicial order. While this is still technically possible using strong encryption, the heat-death of the universe will probably come first, thus rendering it moot.
I'm going to simplify his statement: "The inability to access data due to powerful encryption is an urgent public safety issue" the "From electronic devices" muddies the water, and gets people all up-in-arms about "think of the children", or "OMG Terrorists"
Encryption is a wrapper around data. Much like an envelope, or a diplomatic bag (legally immune from search and seizure by international agreement) Can you imagine the uproar if the US suddenly announced that it reserved the right to open every diplomatic pouch sent to or from the US? or to listen in on every conversation between embassies?
I'm sure that the NSA, CIA, FBI, FSB, and every other national security agency world-wide is trying to break modern strong encryption. They'd be stupid not to! but what doesn't seem to be understood is that modern encryption is math. Math works for everybody the same way. If a hole is discovered in an encryption system, anybody that uses that system is then vulnerable to having their data read by a third part (authorized or unauthorized - from the legal, warrant has been issued state) This might be someone emailing pictures to their grandmother, it could be a terrorist cell communicating with a handler, or it could be instructions to one of our nuclear missile submarines. The Math doesn't care!
I'm sure that Mr. Wray would agree if I said that "the inability of the US government to access data from Russian sources due to powerful encryption is an urgent public safety and national security issue" I wonder how much he would agree if I said that "the inability of the Russian government to access data from US sources due to powerful encryption is and urgent safety and national security issue"?