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☆ NEC director on inflation: Clearly, things have turned around
▼ + stars: | 2022-12-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNEC director on inflation: Clearly, things have turned aroundBrian Deese, National Economic Council director, joins 'Closing Bell' to discuss his thoughts on third quarter GDP revisions, whether the White House will eventually ask the Federal Reserve to pause on rate hikes and more.

☆ The White House wants to entice Americans back to work by giving them more benefits
▼ + stars: | 2022-12-22 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +4 min

A top Biden economist said the president is looking to fix the labor shortage by making it easier to get back to work. That includes giving people childcare options and lowering "costs for consumers." Deese is also referencing the high inflation that the Federal Reserve is fighting to curb, and that Americans are struggling to keep up with, adding that the White House will potentially take administrative actions to reduce the price of housing. Deese was not specific about what White House economists' plans would be beyond that, but he suggested childcare was key to making sure that parents would be able to work. Such provisions may be hard for Biden to pull off after losing control of the House to Republicans this year.

☆ White House Looks at Benefits to Lure Americans Back Into Workforce
▼ + stars: | 2022-12-20 | by ( Annie Linskey | ) www.wsj.com time to read: 1 min

Brian Deese of the National Economic Council says it is focusing on increasing the economy’s productive potential. WASHINGTON—Top White House economic officials are considering a renewed push for a suite of policies aimed at luring more Americans back to work, including enhanced child- care and eldercare benefits, as they hammer out priorities for the coming year. The question of how to find enough workers has emerged as a significant issue as the country emerges from the pandemic, with a smaller share of adults working or looking for work than in early 2020. White House economic officials expect to brief President Biden on their thoughts over the holiday break as the administration shapes its agenda for 2023 and plans for Mr. Biden’s State of the Union address.

☆ White House chief of staff mocks Trump, says Biden is fulfilling promises the former president could not
▼ + stars: | 2022-12-18 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

White House chief of staff Ron Klain suggested that Biden is delivering on Trump's unfinished work. He shared an AP article listing pledges Trump failed to carry out that Biden is now fulfilling. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyWhite House chief of staff Ron Klain mocked former President Donald Trump, suggesting President Joe Biden is fulfilling promises that Trump did not. AP's White House reporter Josh Boak wrote: "After two years as president, it's Joe Biden who is acting on those promises." "What President Biden has done is taken the campaign agenda that he campaigned on and actually delivered on it."

☆ Economic signs we're seeing are promising, says NEC Director Brian Deese
▼ + stars: | 2022-12-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic signs we're seeing are promising, says NEC Director Brian DeeseBrian Deese, National Economic Council Director, joins 'Closing Bell' to discuss inflation data and its where he sees the economy heading.

☆ Biden celebrates easing inflation numbers, defends his economic policies
▼ + stars: | 2022-12-13 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

President Joe Biden on Tuesday celebrated the positive consumer price index report that showed inflation easing in the United States ahead of the holiday season. "We learned last month that the inflation rate came down, down more than experts expected," Biden said, speaking from the White House. "In a world where inflation is rising in double digits in many major economies around the world, inflation is coming down in America." But he said the positive economic news confirms that his economic policies are working, and urged Americans to stay the course. "What is clear is my economic plan is working and we're just getting started," Biden said.

☆ TSMC's planned semiconductor investment is good for U.S. economic security, says White House economist
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTSMC's planned semiconductor investment is good for U.S. economic security, says White House economistNational Economic Director Brian Deese joins CNBC's 'Squawk Box' to weigh in on Taiwan Semiconductor Manufacturing Company, or TSMC, plan to build a second chip plant in Arizona.

☆ Key White House economic advisor says U.S. economy is slowing, but resilient
▼ + stars: | 2022-12-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

The November labor market report released Friday showed job growth was better than expected, as nonfarm payrolls increased by 263,000. He also pointed to slowing inflation as a positive sign for healthier economic growth. The improving labor market, combined with a 0.6% increase in average hourly earnings last month, has put pressure on the Fed to continue raising rates. Major U.S. stock indexes have struggled this week, in part due to concerns of a slowing economy and expectations of more rate increases ahead. "That's going be where we get our innovation and our productive capacity, beyond the next month or two."

☆ TSMC to up Arizona investment to $40 billion with second semiconductor chip plant
▼ + stars: | 2022-12-06 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

President Joe Biden is joining the founder of Taiwan Semiconductor Manufacturing Co. on Tuesday to announce the opening of a second chip plant in Arizona, raising the company's investment in the state from $12 billion to $40 billion. Semiconductor chips are used in everything from computers and smartphones to cars, microwaves and health care devices. The law includes $52.7 billion in loans, grants and other incentives as well as billions more in tax credits to encourage investment in U.S. semiconductor manufacturing. It was initially slated to produce 5 nanometer chips, but now will create 4 nanometer chips. The second plant will open in 2026 and produce 3 nanometer chips, the most cutting-edge chips currently available.

☆ TSMC ups its Arizona chipmaking investment to $40 billion ahead of Biden’s visit
▼ + stars: | 2022-12-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN Business —Taiwan Semiconductor Manufacturing Company is upping its investment in the United States, announcing Tuesday that it’s building a second semiconductor factory in Arizona and raising its investment there from $12 billion to $40 billion. On Tuesday afternoon, Biden plans to visit the manufacturer’s site in Phoenix and speak about bringing jobs and investment to the state. TSMC previously announced that it was building a $12 billion facility in Arizona that will eventually manufacture 3-nanometer chips, TSMC’s most advanced technology. The White House is touting the new investments as a direct result of Biden’s economic plan, including the $200 billion CHIPS and Science Act. The facility Biden will visit Tuesday in Phoenix is slated to begin producing chips in 2024.

[1/2] U.S. President Joe Biden delivers remarks about the student loan forgiveness program from an auditorium on the White House campus in Washington, U.S., October 17, 2022. The investment is a big win for Biden after supply-chain issues disrupted the U.S. economy early in his presidency. They will attend a "tool-in" ceremony, which is the symbolic moving of the first equipment onto the shop floor of the new $12 billion facility. The $52.7 billion "Chips and Science" act, signed by Biden in August, is aimed at preventing a resurgence of supply-chain woes. Biden's victory in Arizona in the 2020 presidential election helped catapult him to the White House after Republican Donald Trump won the state in 2016.

☆ Biden to meet with Ford CEO, UAW Friday on economy
▼ + stars: | 2022-11-18 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The White House meeting, which will be in-person and virtual, will also include the presidents of the Service Employees International Union and United Food and Commercial Workers union, the official said. Attendees will discuss the economy and meeting participants' perspectives on the economy "and ideas they have to continue bringing inflation down," the official said. The White House has often cited a shortage of semiconductor chips as a key factor in higher prices for cars and trucks and overall inflation. Also attending is White House National Economic Council director Brian Deese and Treasury Secretary Janet Yellen. In May, Biden, in a trip to South Korea, expressed support for workers seeking to unionize joint venture battery plants.

CNN Business —President Joe Biden will sit down Friday with business executives and labor leaders to highlight recent progress in combating inflation and steadying the economy, a White House official told CNN. “Thanks to the President’s economic plan, the U.S. economy has created 10 million jobs—including 700,000 manufacturing jobs—since the start of the Biden-Harris Administration,” a White House official said. “We are seeing initial signs that inflation is coming down: the October Consumer Price Index showed moderation in inflation, as did the October Producer Price Index released this week. Biden’s sit-down with the business and labor executives comes two days after he returned from a week-long trip to several global conferences. The Consumer Price Index slowed to a 7.7% annual gain last month, a slower pace than the 8% that economists had been expecting.

☆ CPI data gives us confidence in resilience of recovery in labor and broader economy: NEC's Deese
▼ + stars: | 2022-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCPI data gives us confidence in resilience of recovery in labor and broader economy: NEC's DeeseBrian Deese, National Economic Council director, joins 'Closing Bell' to discuss whether he believes the Fed won't have to do as much tightening thanks to CPI data, if the economy's seen the peak in inflation and more.

☆ Biden wants Big Oil to reduce the historic margins their charging, says White House economist
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden wants Big Oil to reduce the historic margins their charging, says White House economistBrian Deese, director of the National Economic Council, joins CNBC's 'Squawk Box' to weigh in on the Biden administrations' threat of a windfall profits tax against Big Oil companies.

☆ U.S. economy showing striking degree of resilience, says White House advisor Brian Deese
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. economy showing striking degree of resilience, says White House advisor Brian DeeseBrian Deese, White House economic advisor, joins 'Squawk Box' to discuss resilience in labor markets and household balance sheets, supply chain improvements bringing prices down, and government interventions aimed at easing prices.

☆ Lower-cost U.S. hearing aids go on sale today
▼ + stars: | 2022-10-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The Food and Drug Administration (FDA) in August approved the sale of over-the-counter hearing aids, allowing millions of Americans to buy hearing aids without seeing an audiologist and potentially saving individuals thousands of dollars. The rules apply to hearing aids for people with mild to moderate hearing loss. CVS (CVS.N) will start selling lower-cost hearing aids online Monday and in some stores in November, the White House said. Best Buy (BBY.N) will start selling lower-priced hearing aids online this week and in stores by the end of October, the White House added. In 2017, Congress passed legislation requiring the FDA to create a category of over-the-counter hearing aids, but it was not fully implemented.

☆ Lower-cost U.S. hearing aids go on sale Monday
▼ + stars: | 2022-10-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 17 (Reuters) - Major U.S. retailers will begin selling lower-cost hearing aids without a prescription or medical exam under final Biden administration rules that take effect Monday. The Food and Drug Administration (FDA) in August approved the sale of over-the-counter hearing aids, allowing millions of Americans to buy hearing aids without seeing an audiologist and potentially saving individuals thousands of dollars. The rules apply to hearing aids for people with mild to moderate hearing loss. CVS (CVS.N) will start selling lower-cost hearing aids online Monday and in some stores in November, the White House said. In 2017, Congress passed legislation requiring the FDA to create a category of over-the-counter hearing aids, but it was not fully implemented.

☆ Biden says prices “too high” as inflation rises before midterms
▼ + stars: | 2022-10-13 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

The consumer price index rose 0.4% last month after gaining 0.1% in August, the Labor Department said in its report. Biden said the consumer price index report shows some progress in the fight against higher prices but there is more work to do, according to a statement issued by the White House. The White House noted that inflation over the last three months has averaged 2% at an annualized rate, down from 11% in the prior quarter. Fighting the global inflation that is affecting countries around the world and working families here at home is my top priority," Biden said in statement. Biden has tried, with modest success, to curtail an inflation surge caused by a U.S. economy emerging from COVID lockdowns and oil-rich Russia's invasion of Ukraine.

☆ UK's Kwarteng heads for Washington under pressure from IMF
▼ + stars: | 2022-10-10 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

On Sept. 23, Kwarteng made his first fiscal announcement including a controversial plan to scrap Britain's top income tax rate for the highest earners, part of a package of measures he said would speed up sluggish economic growth. Last week, a rebellion within the ruling Conservative Party forced Kwarteng and Truss to drop the idea of scrapping the 45% top rate of tax. "If Kwarteng decides to lecture back, let alone publicly dissent from the G7 consensus, then things will go very badly for him," Posen, a former BoE rate-setter, said. The BoE said on Monday it was taking further steps to ensure the emergency bond-buying scheme concludes smoothly on Friday. Register now for FREE unlimited access to Reuters.com RegisterAdditional reporting by Howard Schneider in Washington Writing by William Schomberg Editing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

☆ How the United States is exporting inflation to other countries
▼ + stars: | 2022-09-28 | by ( Julia Horowitz | ) edition.cnn.com time to read: +6 min

Central banks in Switzerland, the United Kingdom, Norway, Indonesia, South Africa, Taiwan, Nigeria and the Philippines followed the Fed in boosting rates over the past week. This dynamic — in which the Fed essentially exports inflation — adds pressure on local central banks. (The Bank of Japan has remained an outlier among major central banks and has resisted hiking rates despite an uptick in inflation.) Nigeria’s central bank hiked rates to 15.5% on Tuesday, much higher than economists had expected. That means the dollar could yet climb further, and other central banks won’t be able to relax.

☆ White House's Deese, asked about UK's economic plans, underscores need for 'fiscal prudence'
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Sept 27 (Reuters) - White House economic adviser Brian Deese on Tuesday said he was not surprised by the negative reaction of financial markets to Britain's fiscal plans, including tax cuts, and underscored the need to maintain "fiscal prudence, fiscal discipline." Deese, speaking at an event hosted by the Economic Club of Washington, said Britain's plans during a cycle of monetary tightening had put the monetary authorities in a position of potentially having to tighten even further. The International Monetary Fund on Tuesday took aim at Britain's fiscal plans after the British pound hit an all-time low, citing high inflation, and urged London to consider more targeted support to affected families and businesses. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. picks team to oversee $52.7 bln in semiconductor funding
▼ + stars: | 2022-09-20 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Kevin LamarqueWASHINGTON, Sept 20 (Reuters) - The Biden administration on Tuesday named a team of senior advisers to oversee $52.7 billion in government funding to boost semiconductor manufacturing and research. In August, Congress approved $52.7 billion for semiconductor manufacturing and research and a 25% investment tax credit for chip plants that is estimated to be worth $24 billion. At Commerce, Treasury official Michael Schmidt will serve as CHIPS Program Office director. Former Palm Computing CEO Donna Dubinsky is Raimondo's senior counselor for CHIPS implementation and Commerce official J.D. Commerce hopes by February to begin seeking applications for $39 billion in semiconductor chips subsidies to build new facilities and expand existing U.S. production.

☆ The manufacturing promise in the U.S. looks better than it has in years, says NEC's Deese
▼ + stars: | 2022-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe manufacturing promise in the U.S. looks better than it has in years, says NEC's DeeseBrian Deese, National Economic Council director, joins 'Closing Bell' to discuss recessionary warnings from corporate America, if the U.S. is going into a downturn faster than expected and more.

☆ Biden White House just put out a framework on regulating crypto — here’s what’s in it
▼ + stars: | 2022-09-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

U.S. President Joe Biden walks from Marine One to the White House following a trip from Michigan, in Washington, U.S., September 14, 2022. Here are some of the key takeaways from the White House's new crypto framework. Fighting illicit financeOne section of the White House's new framework on crypto regulation focuses on eliminating illegal activity in the industry — and the measures proposed appear to have real teeth. Crime is rife in the digital asset sector. Then there's the hypothetical digital dollar that would be the Federal Reserve's take on a CBDC.

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