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Mr. Powell’s public calendar shows that he and Mr. Bankman-Fried met as planned. And Mr. Wetjen went on to send the Fed chair two policy papers that FTX had recently published, according to emails obtained through a public records request. “Hope you’re finding these useful!” Mr. Wetjen wrote. According to newly released records, Mr. Wetjen managed to gain access to a range of federal officials. And public calendars show that Mr. Bankman-Fried went on to meet with another top financial regulator, Martin Gruenberg, head of the Federal Deposit Insurance Corporation.

Persons: Jerome H, Powell, Sam Bankman, ” Mr, Mark Wetjen, Fried, Wetjen, FTX, Hope, Mr, Lael Brainard, Martin Gruenberg Organizations: Federal Reserve, Commodity Futures Trading Commission, Fed, White, National Economic Council, Federal Deposit Insurance Corporation Locations: Washington

☆ There's 'absolutely still a chance' student-loan borrowers will get broad debt cancellation, AOC says — but 'you can thank a Republican' for payments restarting next month
▼ + stars: | 2023-09-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Rep. Alexandria Ocasio-Cortez told borrowers that student-debt relief "is not a done deal." She said there's still a chance for relief under the Higher Education Act. On Monday night, Ocasio-Cortez took to her Instagram story to answer questions about the current state of affairs in Congress — particularly a government shutdown — and what's next for student-loan borrowers. AdvertisementAdvertisement"There is absolutely still a chance of cancellation," she said on her Instagram story on Monday. Regardless of the hurdles the broad relief could face, a group of Democratic lawmakers want borrowers to see a reduction to their balances as soon as possible.

Persons: Alexandria Ocasio, Cortez, there's, —, what's, Joe Biden's, Biden, Bharat Ramamurti, Biden's Organizations: Higher, Service, Education Department, GOP, National Economic Council, Democratic Locations: Alexandria, Wall, Silicon

☆ The most insidious part of online shopping is about to get even worse
▼ + stars: | 2023-09-14 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

Companies are just baking all those fees into the total price — making the hidden fees even more hidden. On the first page, you see the ticket price. I have never seen a good justification of what I'd call mandatory hidden fees. The Canadian government is also looking to pare down hidden fees. After all, Mahoney told me, "I have never seen a good justification of what I'd call mandatory hidden fees."

Persons: I'd, Neale Mahoney, Joe Biden's, Mahoney, Marcos Villaoslada, Sara Fisher Ellison, Ellison, Harold Hill, obfuscation, you've, Vicki Morwitz, Morwitz, — they've, StubHub, Laura Dooley, StubHub's, pare, Michael Negron, —, they're, Joe Biden, Alex Wong, Maggie Rogers, she'd, Audrey Fix Schaefer, Juliana Kaplan Organizations: Stanford University, White, Economic Council, Europa Press, Getty, MIT, Columbia Business School, YouGov, Ticketmaster, National Economic Council, NPR, Federal Trade Commission, I.M.P, Independent, Association Locations: New York, upsell, Europe, Washington ,

☆ America is in a factory boom again. Even a recession may not bring it down this time
▼ + stars: | 2023-09-09 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

A few days before Biden’s speech in Maine, the Fed approved raising interest rates to their highest level in more than 22 years, continuing an aggressive inflation-busting campaign. Customers are also being pinched with higher interest rates,” a food, beverage and tobacco products manufacturer told the ISM in its August survey. “When we built our first building, interest rates were around 14% or so, and that was in the early ’80s,” she said. “We’ve seen some plans go on hold or on a slower burn until those companies see what happens with interest rates and the economy,” he said. Recession or not, the bull case for US manufacturing has the industry — and Biden — in a good mood.

Persons: Kathie Leonard, Leonard, —, ”, ” Leonard, Joe Biden, “, ’ ” Leonard, Biden, Charles Krupa, Paul Krugman, Goldman Sachs, It’s, Scott Paul, Paul, it’s, Auburn Manufacturing’s Leonard, “ we’ve, Julianna Keeling, Lou Pektor, “ We’ve, Jennifer Harris, bode Organizations: DC CNN, Maine Department of Economic, Community Development, Auburn Manufacturing, CNN, Auburn Manufacturing Inc, AP, Commerce Department, Fed, P Global, Institute for Supply Management, Alliance for American Manufacturing, PMI, ISM, Labor Department, Auburn, Manufacturers, Fed Companies, National Economic Council, National Security Council Locations: Washington, Maine, Portland, Auburn , Maine, United States, Pointe, Lehigh

☆ NEC Director Lael Brainard on August jobs report: People are coming back and going to work
▼ + stars: | 2023-09-01 | 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 EmailNEC Director Lael Brainard on August jobs report: People are coming back and going to workLael Brainard, National Economic Council Director, joins 'Squawk on the Street' to discuss the August jobs report, the role of unions in the current jobs environment, China's economic crisis and the impact on the U.S., and more.

Persons: Lael Brainard Organizations: NEC, National Economic

☆ Where student-loan forgiveness now stands for millions of borrowers one year after Biden announced his broad debt relief plan
▼ + stars: | 2023-08-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Since then, it faced legal hurdles, and the Supreme Court struck the relief down in June. Since he took office, his administration was weighing its options to get relief to borrowers, and Biden himself even questioned his authority to enact broad debt relief. About a month after the debt relief announcement, applications opened for federal borrowers to apply for an up to $20,000 reduction to their balances. It did go all the way to the Supreme Court and was deemed ineligible. Even with the Supreme Court ruling, Biden's administration has started implementing other reforms for borrowers, along with a new process for broad student-loan forgiveness using a different law.

Persons: Biden, Joe Biden's, Miguel Cardona, Harris, Biden's, it's, Joe Biden, Demetrius Freeman, Bharat Ramamurti, Chuck Schumer Organizations: Service, Biden, Social, Education Department, Republican, Supreme, Here's, White, Washington, Getty, Higher, National Economic Council Locations: Wall, Silicon

☆ Powell's pivotal speech Friday could see a marked shift from what he's done in the past
▼ + stars: | 2023-08-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"I just think he's going to play it about as down the middle as possible," said Joseph LaVorgna, chief economist at SMBC Nikko Securities America. "He's got to strike that chord that the Fed is going to finish the job. "He's going to want to be a little more hawkish than neutral. But he's not going to deliver what he delivered last year. A Cleveland Fed inflation tracker anticipates August's figures will show a noticeable jump.

Persons: Jerome Powell, Powell, Win Mcnamee, Joseph LaVorgna, circumspect, LaVorgna, Donald Trump, He's, It's, Quincy Krosby, he's, Inflation's, Krosby, Patrick Harker, you've, Harker, CNBC's Steve Liesman, Jackson Organizations: Financial, Federal, Getty, Federal Reserve, Nikko Securities America, Research, National Economic Council, LPL, Cleveland, San Francisco Fed, Philadelphia Fed Locations: Washington , DC, circumspect Powell

☆ CFPB to crack down on data brokers, Chopra says at White House event
▼ + stars: | 2023-08-15 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — The White House on Tuesday held a roundtable examining potential harmful data broker practices as part of an overall strategy to protect Americans' privacy. The CFPB's new rule proposals will build upon the FCRA to hold data brokers that sell highly sensitive information more accountable. One proposal, said Chopra, will define a data broker dealing in certain types of consumer data as a consumer reporting agency and the brokers' sale of data as a consumer report. Another will clarify whether credit header data, the portion of a credit report that contains identifying information, can be considered a covered consumer report. "We applaud the steps the Consumer Protection Financial Bureau is taking to stop data brokers from unlawfully collecting and selling millions of Americans' sensitive data," she said.

Persons: WASHINGTON, Chopra, There's, Arati Prabhakar, Lael Brainard, Lina Khan, Brian Boynton, Khan, Brainard Organizations: Consumer, Fair, White, Office of Science, Technology, National Economic Council, Federal Trade, Justice Department's Civil, FTC, Protection

☆ Frank Dunlevy, Gary Cohn host campaign fundraiser for Tim Scott in the Hamptons
▼ + stars: | 2023-08-10 | by ( Brian Schwartz | ) www.cnbc.com time to read: +1 min

U.S. Republican presidential candidate Tim Scott speaks at the "Roast and Ride" event hosted by U.S. Republican Sen. Tim Scott huddled with over 50 donors at the Hamptons home of Wall Street veteran and former Trump administration official Frank Dunlevy on Wednesday night, according to people familiar with the matter. In fact, when CNBC reached out to Dunlevy before the party this week, he tried to dispute whether the fundraiser was at his house. Dunlevy lent his backyard to the official listed hosts of the Scott event, another person explained. Also attending the party was Gary Cohn, who served as director of the National Economic Council in 2017-18.

Persons: Tim Scott, Joni Ernst, Republican Sen, Trump, Frank Dunlevy, Cowen, invitees, Dunlevy, Scott, Gary Cohn, Cohn Organizations: Republican, U.S, Hamptons, Wall Street, CNBC, National Economic Council Locations: Des Moines , Iowa, U.S, Hampton, East Hampton

☆ Former NEC Director on Bidenomics: Most significant economic response to any legislation in 7 years
▼ + stars: | 2023-08-09 | 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 EmailFormer NEC Director on Bidenomics: Most significant economic response to any legislation in 7 yearsBrian Deese, MIT Innovation fellow and former National Economic Council Director under President Biden, joins 'Squawk Box' to discuss the state of the U.S. economy, the impact of Bidenomics, why results haven't been reflected in polls, and more.

Persons: Brian Deese, Biden Organizations: NEC, MIT Innovation, National Economic Locations: U.S

☆ Democrats need to show voters ‘ground level’ benefits of the Inflation Reduction Act, ex-White House economist says
▼ + stars: | 2023-08-09 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — Brian Deese, former director of the National Economic Council under President Joe Biden, touted the financial boost provided by the Inflation Reduction Act, calling it "the most significant economic response to any piece of legislation in 70 years." "We've seen a doubling of manufacturing construction, and under the hood, you see that in semiconductors but you also see that in funded clean energy announced projects — multiples of what we've ever seen in this country before," Deese told CNBC's "Squawk Box" on Wednesday. "And that holds the prospect for driving productivity for driving better job opportunities in the future." The $430 billion package passed last year is the Biden administration's landmark piece of legislation, part of an overarching plan to fund manufacturing and infrastructure investments to help the U.S. economy recover from the Covid-19 pandemic and shift away from a reliance on fossil fuels. The challenge for Democrats ahead of the 2024 election, Deese said, is spelling out the impact of the legislation at the "ground level" while challenging Republicans who are taking credit for administration policies.

Persons: WASHINGTON, Brian Deese, Joe Biden, Deese, CNBC's Organizations: National Economic Council, Biden Locations: U.S

☆ Exclusive: As US navigates summer of strikes, Biden's top labor adviser exits, source says
▼ + stars: | 2023-08-08 | by ( Nandita Bose | ) www.reuters.com time to read: +5 min

Her departure comes at a critical time for an administration dealing with a summer of labor unrest, with estimates from national labor unions showing more than 650,000 U.S. workers were on or threatened strikes in the first half of 2023. At the White House, Drake advised Biden and his team on labor negotiations that had a direct impact on the country's supply chain and the economy, current and former White House officials said. Responding to concerns around the timing of her departure, Deese said, the White House has planned for this transition and it will be able to maintain its "strong focus on labor." The White House did not comment on Drake's potential successor. The source said another key Biden labor adviser, Erika Dinkel-Smith, was recently promoted to the position of senior labor adviser within the White House's Office of Political Strategy.

Persons: Joe Biden, Marty Walsh, Celeste Drake, Kevin, Read, Joe Biden's, Drake, Biden, we've, Brian Deese, Deese, Erika Dinkel, Smith, Seth Harris, Biden's, Julie Su, Jeff Zients, Drake's, Nandita Bose, Trevor Hunnicutt, David Gregorio Our Organizations: Labor, White, REUTERS, International Labor Organization, Hollywood, General Motors, Ford Motor, Chrysler, Workers, UPS, Teamsters, Democratic, National Economic Council, NEC, Political, AFL, America, Management, Budget, Thomson Locations: Washington , U.S, Geneva, Switzerland, U.S, Washington

☆ July jobs report shows we have a supply issue, says Cato Institute's Tyler Goodspeed
▼ + stars: | 2023-08-04 | 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 EmailJuly jobs report shows we have a supply issue, says Cato Institute's Tyler GoodspeedTyler Goodspeed, former acting CEA chair and Cato Institute adjunct scholar, Jennifer Harris, former national economic council official, and Saira Malik, Nuveen CIO, join 'Squawk Box' along with CNBC's Steve Liesman and Rick Santelli to react to the July jobs report, where the U.S. economy added 187,000 jobs in July, fewer than expected, what it means for the Fed's inflation fight, and more.

Persons: Cato Institute's Tyler Goodspeed Tyler Goodspeed, Jennifer Harris, Saira Malik, Steve Liesman, Rick Santelli Organizations: CIO

☆ Tim Scott sees big money donor interest while Ron DeSantis hunts for cash
▼ + stars: | 2023-07-28 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

Nicholas Pfosi | ReutersSen. Tim Scott, R-S.C., is seeing a wave of wealthy donor interest as he runs for president, while Florida Gov. Herring has already donated $6,600 to Scott's 2024 run for president, according to Federal Election Commission filings. Nikki Haley will be in the Hamptons on Sunday for a fundraising event, according to an invitation reviewed by CNBC. Sobel, who is a managing partner at Valor Capital Group, donated $6,600 to DeSantis' campaign in late June, according to Federal Election Commission records. Andrew Romeo, a spokesman for the DeSantis campaign, pointed CNBC to their fundraising efforts in the second quarter.

Persons: Tim Scott, Saint Anselm College's, Nicholas Pfosi, Reuters Sen, Ron DeSantis, Scott, Goldman Sachs, Gary Cohn, Andy Sabin, Stanley Druckenmiller, Sabin, James Herring, Herring, Marc Rowan, Tim Scott Victory, Robert Giuffra, Cromwell, Nikki Haley, Donald Trump, DeSantis, meanwhile, Cohn, Druckenmiller, Goldman, Scott East, Still, he's, John Catsimatidis, Brandon Bell, Clifford Sobel's, Michael Pascucci, Sobel, Pascucci, Giuffra, Ronald Lauder, Paul Singer, Lauder, Singer, Andrew Romeo, –, Romeo, Glenn Youngkin, Trump Secretary of Commerce Wilbur Ross, Lisa Wagner, Wagner, she's Organizations: U.S, New Hampshire Federation of Republican Women, Saint Anselm, Saint Anselm College's New Hampshire Institute of Politics, Reuters, Florida Gov, CNBC, Hamptons, Republican, Trump National Economic Council, Trump, Billionaire, Apollo Global Management, Tim Scott Victory Fund, PAC, Southampton, Sullivan, Former South Carolina Gov, GOP, Washington Examiner, Florida Governor, Getty, Valor Capital, Commission, Business Jet, Gulfstream, Embraer, Bucknell University, Records, Politico, Virginia Gov, Hotel, Trump Secretary of Commerce, NBC News, DeSantis Locations: Saint, Manchester , New Hampshire, Florida, Long, East Hampton, North Carolina, Scott East Hampton, DeSantis, Ukraine, Scott, Rio Grande, Eagle Pass , Texas, Southampton, Charleston, Virginia, Aspen , Colorado, Colorado

☆ US commerce chief says China export controls will hit companies' revenue
▼ + stars: | 2023-07-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/IllustrationWASHINGTON, July 26 (Reuters) - Commerce Secretary Gina Raimondo said on Wednesday the Biden administration is seeking to carefully target U.S. controls on exports to China, but rules will cost firms some revenue. Restrictions should not be so broad "that you deny American companies revenue and China can get the product elsewhere, or China can get the product from other countries," Raimondo said at a forum. Rules "will deny some revenue to American companies, but we think it's worth it." Raimondo said the administration is meeting with companies "to get to the right place so we don't damage American business but quite frankly protect American national security." The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment.

Persons: Florence Lo, Gina Raimondo, Biden, Raimondo, hobble, we're, Antony Blinken, Lael Brainard, Jake Sullivan, David Shepardson, Leslie Adler Organizations: REUTERS, WASHINGTON, Biden, Semiconductor Industry Association, Nvidia, Qualcomm, Intel, Huawei, National Economic, National Security, Thomson Locations: of China, U.S, China, American, United States

☆ Biden asks aides for options preventing future debt limit crisis
▼ + stars: | 2023-07-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

[1/2] US President Joe Biden addresses the nation on averting default and the Bipartisan Budget Agreement, in the Oval Office of the White House in Washington, DC, June 2, 2023. JIM WATSON/Pool via REUTERS/File PhotoWASHINGTON, July 20 (Reuters) - U.S. President Joe Biden asked a group of aides to explore "all legal and policy options" to prevent another debt limit standoff, the White House said on Thursday. The group includes Treasury Secretary Janet Yellen, Attorney General Merrick Garland, White House budget director Shalanda Young and Council of Economic Advisers chair Jared Bernstein. This year's bipartisan debt ceiling deal keeps fiscal 2024 spending flat at this year's levels, allowing a 1% increase for fiscal 2025. The deal was approved by 149 House Republicans - a strong party majority - along with 165 Democrats.

Persons: Joe Biden, JIM WATSON, Kevin McCarthy, Stuart Delery, Lael Brainard, Biden, Janet Yellen, General Merrick Garland, Shalanda Young, Jared Bernstein, Laurence Tribe, Morgan Stanley, Seth Carpenter, Trevor Hunnicutt, Leslie Adler, Stephen Coates Organizations: White, WASHINGTON, Democratic, Republican, National Economic, U.S . Constitution, Economic, Harvard Law School, Republicans, Thomson Locations: Washington , DC, United States, U.S .

It has already taken aim at meatpacking, ocean shipping and consumer junk fees. "We cannot accept bad mergers that lead to mass layoffs, higher prices and fewer options for workers and consumers," Biden said. Hannah Garden Monheit, the new director of Competition Council Policy at the National Economic Council, told Reuters the administration would "use all the tools that we have" to curb anti-competitive practices. [1/2]U.S. President Joe Biden speaks as he convenes a meeting of the White House Competition Council in the State Dining room at the White House in Washington, U.S., July 19, 2023. Biden has repeatedly called for federal agencies, Congress and private companies to address surprise fees that can jack up consumers' cost by 20%.

Persons: Joe Biden, Biden, I've, Hannah, Monheit, Sean Heather, Evelyn Hockstein Morgan Harper, Harper, Elizabeth Warren, Andrea Shalal, Diane Bartz, Leah Douglas, Leslie Adler, Heather Timmons, Daniel Wallis, Diane Craft Organizations: White House Competition Council, WASHINGTON, White, Biden, House, Competition, National Economic Council, Reuters, U.S . Chamber of Commerce, Competition Council, REUTERS, Consumer Financial, Bureau, American Economic Liberties, Big Tech, Google, Democratic, Federal Trade Commission, Department of Agriculture, D.C, Thomson Locations: U.S, Washington , U.S, Washington

☆ Biden creates new competition role on National Economic Council
▼ + stars: | 2023-07-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Summary White House readying actions in new corporate sectorsCompetition Council to have fifth meeting on WednesdayIndustry chafes at 'regulatory overreach'WASHINGTON, July 18 (Reuters) - President Joe Biden has created a new role on the National Economic Council (NEC) to tackle anticompetitive business practices, naming NEC member Hannah Garden-Monheit as Director of Competition Council Policy, the White House said on Tuesday. One may be the retail sector, which National Economic Council Director Lael Brainard singled out last October before leaving her job as Federal Reserve vice chair, arguing it had "ample room" to "recompress margins" after COVID-19 price hikes. "Institutionalizing competition policy within the National Economic Council and the White House is another critical step ... to make sure we right the wrongs of failed antitrust enforcement and competition policy enforcement for the last several decades." Columbia University Professor Timothy Wu, who led the White House antitrust push until December, said Biden's decision to create a specific role centered on the competition council reflected its importance. "Creating a White House director of competition policy is a big deal — it cements the White House role in antitrust policy and ensures a lasting impact," he said.

Persons: Joe Biden, Hannah Garden, Biden, Monheit, Lael Brainard, Morgan Harper, Timothy Wu, Andrea Shalal, Josie Kao, Matthew Lewis Organizations: Competition Council, Industry, National Economic Council, NEC, Competition, Reuters, Economic, Reserve, U.S . Chamber, Commerce, Council, Consumer Financial, Bureau, American Economic Liberties, Columbia, White, Thomson Locations: WASHINGTON, U.S, Wednesday's, Washington

☆ Biden creates new anti-competition role on National Economic Council
▼ + stars: | 2023-07-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Biden created the council as part of an executive order two years ago to crack down on anti-competitive practices in sectors from agriculture to drugs and labor, and find ways to lower prices for consumers. She said would work with Congress to curb anti-competitive practices in agriculture, while seeking new focal areas. One may be the retail sector, which National Economic Council Director Lael Brainard singled out last October before leaving her job as Federal Reserve vice chair, arguing it had "ample room" to "recompress margins" after COVID-19 price hikes. Columbia University Professor Timothy Wu, who led the White House antitrust push until December, sans the new title, said Biden's decision to create a specific role centered on the competition council reflected its importance. "Creating a White House director of competition policy is a big deal — it cements the White House role in antitrust policy and ensures a lasting impact," he said.

Persons: Joe Biden, Hannah Garden, Biden, Monheit, Lael Brainard, Timothy Wu, Andrea Shalal, Josie Kao Organizations: Competition Council, Industry, National Economic Council, NEC, Competition, Reuters, Economic, Reserve, U.S . Chamber, Commerce, Council, Columbia University, White, FDR, Thomson Locations: WASHINGTON, U.S, Wednesday's, Washington

☆ Biden meets labor organizers from Starbucks, Minor League Baseball
▼ + stars: | 2023-07-18 | by ( Nandita Bose | ) www.reuters.com time to read: +2 min

WASHINGTON, July 17 (Reuters) - President Joe Biden and Senator Bernie Sanders met with young labor organizers from Starbucks and Minor League Baseball among others at the White House on Monday as a growing number of worker strikes grip the country. In a tweet on Monday night, Biden said he and Sanders met with young labor leaders to discuss their fight for better pay and benefits. And organizing or joining a union - that's democracy in action," Biden tweeted. Administration officials in Monday's meeting included Acting Secretary of Labor Julie Su, White House National Economic Council Director Lael Brainard, and White House Director of Governmental Affairs Tom Perez, the official said. Biden, who is often referred to as the most pro-union president in U.S. history by labor leaders, had a similar meeting with union activists from Amazon and Starbucks at the White House last year.

Persons: Joe Biden, Bernie Sanders, Biden, Sanders, Karine Jean, Pierre, Labor Julie Su, Lael Brainard, Tom Perez, Nandita Bose, Sonali Paul Organizations: Starbucks, Minor League Baseball, White, Apple, House Press, Labor, National Economic, Governmental, Amazon, Thomson Locations: U.S, dockworkers, Washington

☆ Biden to meet labor organizers from Starbucks, Minor League Baseball
▼ + stars: | 2023-07-17 | by ( Nandita Bose | ) www.reuters.com time to read: +1 min

WASHINGTON, July 17 (Reuters) - President Joe Biden and Senator Bernie Sanders will meet young labor organizers from Starbucks and Minor League Baseball among others at the White House on Monday as a growing number of worker strikes grip the country. Biden and Senator Sanders, who chairs a committee on labor issues, are expected to congratulate organizers for the work they have done and discuss the president's "belief that worker power is essential to growing the economy from the middle out and bottom up," White House Press Secretary Karine Jean-Pierre said. Administration officials in Monday's meeting include Acting Secretary of Labor Julie Su, White House National Economic Council Director Lael Brainard, and White House Director of Governmental Affairs Tom Perez, the official said. Biden, who is often referred to as the most pro-union president in the history of the United States by labor leaders, had a similar meeting with union activists from Amazon and Starbucks at the White House last year. Reporting by Nandita Bose in Washington; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Bernie Sanders, Biden, Sanders, Karine Jean, Pierre, Labor Julie Su, Lael Brainard, Tom Perez, Nandita Bose, Sonali Paul Organizations: Starbucks, Minor League Baseball, White, Apple, House Press, Administration, Labor, National Economic, Governmental, Amazon, Thomson Locations: U.S, dockworkers, United States, Washington

WASHINGTON, July 17 (Reuters) - U.S. chip company executives met with top Biden administration officials on Monday to discuss China policy, the State Department and sources said, as the most powerful semiconductor lobby group urged a halt to more curbs under consideration. Secretary of State Antony Blinken talked with chip company chief executives about the industry and supply chains after his recent trip to China, a department spokesperson told reporters. The chip industry is keen to protect its profits in China as the Biden administration considers another round of restrictions on chip exports to China. Last year, China accounted for $180 billion in semiconductor purchases, more than a third the worldwide total of $555.9 billion and the largest single market, according to Semiconductor Industry Association (SIA). The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment.

Persons: Antony Blinken, Gina Raimondo, Lael Brainard, Jake Sullivan, Biden, Blinken, Matthew Miller, Commerce's Raimondo, Washington, hobble, Pat Gelsinger, David Shepardson, Andrea Shalal, Simon Lewis, Stephen Nellis, Chris Sanders, Susan Heavey, Matthew Lewis, Nick Zieminski Organizations: Biden, State Department, National Economic, National Security, Intel, Qualcomm, Nvidia, Reuters, Semiconductor Industry Association, SIA, Department, White, Commerce Department, Huawei Technology Co, San, Thomson Locations: China, U.S, Washington, San Francisco

The chip industry is keen to protect its profits in China as the Biden administration considers another round of restrictions on chip exports to China. The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment. Not every official is expected to meet with every company, the source who spoke on condition of anonymity added. Further rule-tightening by U.S. officials risks "disrupting supply chains, causing significant market uncertainty, and prompting continued escalatory retaliation by China," the industry group said. "The availability of Gaudi2 in China continues Intel’s nearly 40-year history of delivering innovative yet legally-compliant products to this key growth market," Intel said in a statement.

Persons: Antony Blinken, Gina Raimondo, Lael Brainard, Jake Sullivan, Biden, Matthew Miller, chafed, hobble, Blinken, Pat Gelsinger, Raimondo, David Shepardson, Andrea Shalal, Simon Lewis, Stephen Nellis, Susan Heavey, Matthew Lewis, Nick Zieminski Organizations: Biden, National Economic, National Security, Intel, Qualcomm, Nvidia, Semiconductor Industry Association, SIA, Department, Administration, White, Reuters, Commerce Department, U.S, Huawei Technology Co, San, Thomson Locations: China, U.S, Washington, Intel’s, San Francisco

☆ Biden administration holding meetings with chips companies, source says
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, July 17 (Reuters) - The chief executives of U.S. chip companies are holding meetings with Commerce Secretary Gina Raimondo and key White House officials Monday as they discuss China policy, a source told Reuters. On Friday, Reuters reported the chief executives of Intel Corp (INTC.O) and Qualcomm Inc (QCOM.O) were planning to visit Washington this week, according to two sources familiar with the matter. The source told Reuters Monday the companies are having separate meetings with Raimondo, National Economic Council director Lael Brainard, and National Security Council director Jake Sullivan. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Gina Raimondo, Raimondo, Lael Brainard, Jake Sullivan, David Shepardson Organizations: White, Reuters, Intel Corp, Qualcomm Inc, National Economic, National Security, Thomson Locations: China, Washington

☆ Student-loan borrowers can tell Biden what they want from his new debt relief plan. Here's how.
▼ + stars: | 2023-07-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan borrowers have a few days left to submit comments on Biden's new debt relief plan. Biden is beginning a new process for relief after the Supreme Court struck down his first plan. On June 30, the Supreme Court struck down Biden's plan to cancel up to $20,000 in student debt for federal borrowers. Anyone can submit a comment on the federal register through July 20 regarding anything they want the department to consider related to its new debt relief plan. Along with the opportunity to submit public comments, the Education Department is holding the first public hearing on the new debt relief plan on Tuesday.

Persons: Biden, didn't, Joe Biden's, —, Bharat Ramamurti, Education James Kvaal Organizations: Service, Education Department, Higher, National Economic Council, Education Locations: Wall, Silicon

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