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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

☆ Gilgo Beach serial killings: A flood of evidence and information has come in since suspect's arrest, DA says
▼ + stars: | 2023-07-17 | by ( Polo Sandoval Samantha Beech Elizabeth Wolfe Lauren Mascarenhas | Polo Sandoval | Samantha Beech | ) edition.cnn.com time to read: +8 min

CNN —Authorities have received a flood of evidence and information related to the suspect charged in some of the Gilgo Beach killings since his arrest, the Suffolk County District Attorney told CNN on Monday. Authorities have had Heuermann on their radar for more than a year as investigators gathered enough evidence to make an arrest. The suspect’s wife and children are cooperating with the investigation, according to Carter. Authorities later said they believed Gilbert’s death may have been accidental and unrelated to the Gilgo Beach homicides. “We’re going to continue to work this case and work the entire Gilgo investigation,” Carter said.

Persons: ” Ray Tierney, Rex Heuermann, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, “ We’re, ” Tierney, “, Tierney, Heuermann, Carter, piecing, Amber Lynn Costello, Police Department “, ”, ” Carter, Shannan Gilbert, surveil, Heuermann’s, Tsoierney, suspect’s, AP Carter, James Carbone, Brainard, Jessica Taylor, Shannan Gilbert –, “ They’ve Organizations: CNN — Authorities, Attorney, CNN, Police Department, Authorities, Shore, Investigators, New, Sheriff's, Suffolk County Sheriff's, AP, RH, & Associates Locations: Suffolk County, Shore, Heuermann, Megan Waterman Suffolk, Gilgo Beach, New York City, Manhattan, Suffolk, Massapequa, Oak Beach , New York, Shannan

☆ Gilgo Beach murders: Years in the making, evidence leads investigators to Rex Heuermann
▼ + stars: | 2023-07-16 | by ( Ray Sanchez | ) edition.cnn.com time to read: +11 min

Rex Heuermann in booking image from the Suffolk County Sheriff's Office. Suffolk County Sheriff's Office/APHeuermann is charged with three counts of first-degree murder for the killings of Melissa Barthelemy in 2009, and Megan Waterman and Amber Costello the following year, according to the Suffolk County District Attorney. His father had built satellites for a living, Heuermann told the interviewer. They first connected him to the killings last year while conducting a review of evidence under a newly formed task force, which included the Suffolk County Police Department, the Suffolk County Sheriff’s Office, the New York State Police and the FBI. Speaking of the arrest, Suffolk County Police Commissioner Rodney Harrison said Friday: “Rex Heuermann is a demon that walks among us.

Persons: Rex Heuermann, John F, he’s, Heuermann, ”, Kathy Hochul, “, –, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Amber Lynn Costello, Michael Brown, ” Heuermann, it’s, Barthelemy, selfies “, hank, Tierney, Heuermann’s, Investigators, ” Tierney, Shannan Gilbert, Gilbert, Brainard, Waterman, Rodney Harrison, “ Rex Heuermann Organizations: CNN, Catholic Charities, American Airlines, Kennedy International Airport, WABC, ” New York Gov, Netflix, Sheriff's, Suffolk County Sheriff's, Attorney, Police Department, Associates, Heuermann, Suffolk County Police Department, Sheriff’s Office, New York State Police, FBI, Avalanche, Authorities, Suffolk County, Craigslist, Suffolk County Police Locations: Manhattan, Shore, Long, Suffolk, Suffolk County, Megan Waterman Suffolk, homey, Massapequa, Nassau County, Heuermann, New York City, Heuermann’s, Gilgo, Oak Beach, Gilgo Beach, Hauppauge

☆ Gilgo Beach murders: Killings of 3 women in New York went unsolved for more than a decade. Here's how authorities tracked down the suspect
▼ + stars: | 2023-07-15 | by ( Aya Elamroussi Samantha Beech | Aya Elamroussi | Samantha Beech | ) edition.cnn.com time to read: +8 min

Heuermann has not been charged in the case, but the investigation “is expected to be resolved soon,” the document states. I can only imagine what you’ve had to endure over the last decade regarding knowing that your killer was still loose. “For each of the murders, he got an individual burner phone, and he used that to communicate with the victims. By mid-March, Heuermann’s name showed up on authorities’ radar after a New York state investigator identified him in a database, according to Tierney. The victims’ remains “were out in a tough environment for a prolonged period of time.

Persons: –, Rex Heuermann, ”, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Heuermann, “ Rex Heuermann, Rodney Harrison, “, ” Harrison, Shannan Gilbert, Ray Tierney, Harrison, Heuermann’s, Tierney, Kevin P Coughlin, ” Tierney, CNN’s Anderson Cooper, Amber Lynn Costello, Gilbert Organizations: CNN, Police, New, Technology, Suffolk County Crime Laboratory, FBI, Police Department, Authorities Locations: Long Island , New York, New York City, Suffolk County, Suffolk, Gilgo, Manhattan, Long Island, New York, Oak Beach , New York, Megan Waterman Suffolk

He was expected to be arraigned Friday after his arrest Thursday night in Manhattan, said Suffolk County Police Commissioner Rodney K. Harrison. "We anticipate an indictment later on this afternoon," said Harrison, whose agency and the Suffolk County district attorney are leading the investigation. According to NBC New York, Gilbert was not the only victim who was a sex worker. In May 2022, Suffolk County police released 911 audio related to Gilbert's disappearance. The development comes after a multi-agency task force made up of FBI, New York State Police and Suffolk County authorities was established in February 2022 to "reinvigorate" the investigation.

Persons: Rex Heuermann, Rodney K, Harrison, Shannan Gilbert, Sherre Gilbert, I'm, Rex, Steve Bellone, Emma Tang, Melissa Barthelemy, Megan Waterman, Amber Lynn Costello, Maureen Brainard, Jessica Taylor, Taylor, Valerie Mack, Mack, Gilbert, Joseph Brewer, Gilbert didn't, Michael Pak, Mike, Brewer, Pak, let's Organizations: Suffolk County Police, NBC News, Attorney's, News, NBC, FBI, New York State Police Locations: Long, Massapequa, N.Y, Manhattan, Suffolk County, New York City, Nassau County, Suffolk, Gilbert, New Jersey, Oak Beach, Barnes, Manorville, Gilbert's, NBC New York

☆ What We Know About the Gilgo Beach Victims
▼ + stars: | 2023-07-14 | by ( Hurubie Meko | ) www.nytimes.com time to read: 1 min

The three women that Rex Heuermann is accused of killing — Melissa Barthelemy, Megan Waterman and Amber Lynn Costello — were discovered wrapped in burlap near Gilgo Beach on Long Island’s South Shore in December 2010. A fourth woman, Maureen Brainard-Barnes, was found in the same spot, alongside the other victims, and Mr. Heuermann is also the prime suspect her death, according to the bail application from the Suffolk County District attorney’s office on Friday. The investigation into her death “is continuing and is expected to be resolved soon,” the prosecutors wrote. Mr. Heuermann, an architect who has lived most of his life in Nassau County and worked in Manhattan, on Friday pleaded not guilty to murder in the case of the first three victims and was ordered held without bail.

Persons: Rex Heuermann, — Melissa Barthelemy, Megan Waterman, Amber Lynn Costello —, Maureen Brainard, Barnes, Heuermann, “ Organizations: Suffolk County District Locations: Gilgo Beach, Long, Shore, Suffolk County, Nassau County, Manhattan

“After hearing about this case for so many years, it’s a shock to find out that your neighbor is a serial killer and you never knew it,” a neighbor, Cheryl Lombardi, said. The killings terrorized residents for more than a decade as body after body was discovered in the remote area about 40 miles from Midtown. In all, remains of nine women, a man and a toddler were discovered in the area. She disappeared during an escort job in Oak Beach, a gated community three miles from Gilgo Beach. Ms. Gilbert’s remains were found in December 2011, but investigators have said they do not believe her death is linked to the serial killer.

Persons: Cheryl Lombardi, Shannan Gilbert, Gilbert, Amber Lynn Costello, Maureen Brainard, Barnes, Megan Waterman, Melissa Barthelemy, Valerie Mack, Gilbert’s Locations: Midtown, Jersey City, N.J, Long, Oak Beach, Gilgo Beach, Suffolk County, New Jersey

☆ Inflation fever is finally breaking. The Fed’s soft landing may be in sight
▼ + stars: | 2023-07-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But I can’t help imagine him quietly fist-pumping the moment he got wind of the latest inflation data. For context, a year ago the CPI peaked at 9.1% — the worst inflation in more than 40 years. After a punishing stretch of rising prices, “the fever is breaking,” wrote Bill Adams, chief economist for Comerica Bank. In other words, the Fed may actually pull off the “soft landing” — lowering inflation without tanking the economy — that few believed was doable even six months ago. “The odds of achieving a soft landing just went up drastically,” Dan Alpert, managing director of Westwood Capital, told me.

Persons: CNN Business ’, Jerome Powell, he’d, Jay won’t, ”, Bill Adams, Jay Powell, “ We’ve, Lael Brainard, Joe Biden’s, “, Brainard, hadn’t, ” Dan Alpert, “ I’m, Jamie Dimon, you’ll Organizations: CNN Business, New York CNN, Consumer, Comerica Bank, Fed, Westwood Capital, JPMorgan Chase Locations: New York

That could help lower overall inflation when the next CPI report is released on Aug. 10, with the details in Wednesday's report suggesting "downside risks" to any forecast of July's inflation rate. Indeed, at least one Fed official on Wednesday stuck to policymakers' prevailing hawkish mantra that inflation is still too high. While not specifically addressing the CPI report, Richmond Fed President Thomas Barkin told a Maryland business group that he still felt inflation had "been stubbornly persistent." 'FINAL INNINGS'But the latest CPI data could undercut arguments for yet another rate increase beyond the July meeting. Fed officials, blindsided by the persistence of inflation they initially thought would dissipate on its own, have been reluctant to bank on good news continuing.

Persons: Omair Sharif, Rick Rieder, Lael Brainard, Brainard, Thomas Barkin, Goldman Sachs, they've, Raphael Bostic, Bostic, Howard Schneider, Michael S, Ann Saphir, Dan Burns, Paul Simao Organizations: Federal Reserve, U.S . Labor Department, Reuters Graphics Reuters, BlackRock, Fed, White, Economic Council, Economic, of New, Richmond Fed, U.S, Cleveland Fed's Center, Inflation Research, Atlanta Fed, Derby, Thomson Locations: U.S, of New York, Maryland

☆ White House takes a victory lap after inflation report comes in cooler than expected
▼ + stars: | 2023-07-12 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

WASHINGTON — President Joe Biden on Wednesday celebrated new data that showed inflation cooling more quickly than expected. "Good jobs and lower costs: That's Bidenomics in action," Biden said in a statement. Year over year, inflation rose 3%, the lowest level in more than two years. Core CPI, which does not include food and energy costs, rose 4.8% from a year ago and 0.2% on a monthly basis. "Our progress creating jobs while lowering costs for families is no accident, and I will continue to fight for lower costs for families every day."

Persons: Joe Biden, Volodymyr Zelensky, Biden, Lael Brainard, " Brainard Organizations: NATO, WASHINGTON, Wednesday, Labor Statistics, CPI, Economic, of New Locations: Vilnius, of New York, U.S, United States

☆ The US economy is defying expectations, says Biden’s top economic adviser
▼ + stars: | 2023-07-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —The resiliency of the US economy is defying expectations — and the odds of a “soft landing” are improving, said Lael Brainard, President Joe Biden’s top economic adviser, on Wednesday afternoon. “We’ve seen these repeated predictions that recession is right around the corner — and the data have instead delivered continued resilience in the economy,” said Brainard, formerly No. That’s the president’s economic theory that rejects the idea of “trickle-down” policies in favor of focusing on the middle class. These economic gains did not happen by chance, and they will not be sustained absent a deliberate strategy,” she said. “President Biden’s economic strategy aims to grow the economy from the middle out and bottom up — not the top down.”

Persons: Lael Brainard, Joe Biden’s, Biden, ”, Brainard, “, “ We’ve, Bidenomics Brainard Organizations: New, New York CNN, Labor Department, National Economic Council, Economic, of New, Federal Reserve Locations: New York, of New York

☆ US inflation cooled in June for the 12th straight month
▼ + stars: | 2023-07-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

US annual inflation slowed to 3% last month, according to the latest Consumer Price Index released Wednesday by the Bureau of Labor Statistics. The June annual rate is down from 4% in May and landed slightly below economists’ expectations for a 3.1% increase, according to Refinitiv. Starting in March 2022, the central bank rolled out 10 consecutive interest rate hikes to tame inflation, finally hitting pause last month. And June of last year was monumental: Annual inflation soared to 9.1%, the highest in more than 40 years largely because of record-high energy costs. So the Fed and economists have been keyed in on what’s happening with core inflation, particularly core services.

Persons: Olivia Newton, ” William Ferguson, “, Joe Biden, ” Sung Won Sohn, Lael Brainard, ” Brainard, Brainard, ” Julia Pollak, ZipRecruiter, Sohn, ”, —, Nicole Goodkind Organizations: Minneapolis CNN, Bureau of Labor Statistics, CPI, Grinnell College, CNN, Federal Reserve, Loyola Marymount University, SS Economics, Core PCE, National Economic Council, Economic, of New, BLS, Kansas City Fed Locations: Minneapolis, Iowa, of New York

☆ Biden's Federal Reserve Board nominees clear key Senate committee
▼ + stars: | 2023-07-12 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

WASHINGTON — The Senate Banking Committee approved President Joe Biden's three nominees to the Federal Reserve Board of Governors on Wednesday, teeing up a vote in the full Senate later this year. The committee unanimously approved Philip Jefferson as Biden's nominee for vice chair of the Federal Reserve. Lisa Cook, who Biden has nominated for a full, 14-year term on the Federal Reserve Board, was approved 13-10 by the panel. The third nominee the committee advanced was Adriana Kugler, whom Biden tapped in May to join the Federal Reserve Board of Governors for the first time. Jefferson would be only the second Black person to hold the vice chair position in the history of the Fed board.

Persons: Philip Jefferson, WASHINGTON —, Joe Biden's, teeing, Jefferson, Lael Brainard, Lisa Cook, Biden, Cook, Adriana Kugler, Kugler, South Dakota Republican Sen, Mike Rounds Organizations: Federal, Capitol, WASHINGTON, Federal Reserve, Governors, Fed, National Economic, Federal Reserve Board, South Dakota Republican, World Bank, World Bank Group, U.S, American, Fed's, of Governors Locations: Washington , U.S

☆ Will inflation come down this year? Investors seek clues in corporate results
▼ + stars: | 2023-07-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

It’s not just in the United States, either. Coming up: Two major measures of inflation in the United States are out this week — the Consumer Price Index on Wednesday and Producer Price Index on Thursday. On Friday morning, earnings reports for the second quarter kick off with JPMorgan Chase, Wells Fargo, Citi and BlackRock all reporting. Her Many Horses joined Wells Fargo in 2018 as senior vice president in middle market banking to focus on rebuilding the bank’s Native American banking effort. Wells Fargo Native American Banking is the leading provider of capital and financial services to Native American and Alaska Native markets, according to a statement from the company.

Persons: they’re, Jerome Powell, Christine Lagarde, ”, Albert Edwards, Edwards, it’s, Lael Brainard, Price, Michael Barr, Barr, ” Barr, Elisabeth Buchwald, Wells Fargo, Dawson, “ Dawson, Ruth Jacks, Wells Organizations: New, New York CNN, Federal, Kansas City Fed, Monetary Fund, European Central Bank, Societe, National Economic Council, JPMorgan Chase, Citi, BlackRock, Rosebud Sioux, Wells, Wells Fargo Commercial Banking, American Banking Locations: New York, United States, Wells Fargo, Wells, Dawson, Rosebud, South Dakota, American, Alaska

☆ 'Bidenomics' is being used to tout the country's economic progress — but Americans are still waiting for key Democratic priorities like a higher minimum wage and paid leave
▼ + stars: | 2023-06-29 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

President Biden on Wednesday delivered an address about his economic plan, which has been termed "Bidenomics." The remarks touted the US's strong economic data, and the fact that there's more to be done. But with all the talk on the president's accomplishments, it's hard not to notice key items still on Democrats' to-do list. Still, Biden promised he would enact free community college before he leaves the White House. "And if I don't, I'll be sleeping alone for a long time," he said, likely referring to his wife, Dr. Jill Biden, who is a community college teacher.

Persons: Biden, —, Joe Biden, Lael Brainard, FDR, it's, Joe Manchin, Still, Anderson Cooper, Jill Biden, That's, they've Organizations: GOP, Service, Wednesday, US, Economic, Gallup, Republicans, Democrats, Democratic, American, CNN Locations: Chicago

Chicago CNN —President Joe Biden’s top economic advisers believe the worst effects of inflation are in the rear-view mirror. “I didn’t come up with a name,” he said, crediting the news media for inventing the term Bidenomics. The debt ceiling impasse also needed to be resolved and Biden’s key economic legislation needed to begin to be implemented. Now, officials see Bidenomics as an opportunity to tie together the president’s economic accomplishments, the vision behind those policies and a growing economy under one term. But it’s working.”But when faced with the question of whether “Bidenomics” can be the answer to changing public perception of the president’s record, White House press secretary Karine Jean-Pierre offered a frank reply: “We’re going to try.

Persons: Joe Biden’s, There’s, “, Bidenomics ”, ” Biden, ”, Biden, he’d, he’s, Anita Dunn, Mike Donilon, Dunn, Donilon, Lael Brainard, ” Brainard, It’s, “ It’s, ” Dunn, we’re, Richard Nixon, it’s, Ronald Reagan, Bidenomics, ’ ”, Karine Jean, Pierre Organizations: Chicago CNN, Old, Old Chicago Main Post, CNN, SSRS, “, MSNBC, British, Wall Street, White Locations: Chicago, Old Chicago, America, Ukraine, Philadelphia

☆ Biden tries to flip skeptical Americans on his economic plan
▼ + stars: | 2023-06-28 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +3 min

The U.S. president will attempt to re-introduce his vision of middle-class American prosperity during a speech in Chicago. The philosophy includes taxing the wealthy to invest in areas critical to national security, including semiconductors; educating workers; and improving economic competition, according to aides who previewed the speech for reporters. Trump has made inflation a key element of his attacks on Biden in the early months of the race. "Americans are worse off under Biden," said Republican National Committee chairwoman Ronna McDaniel in a statement. Biden, 80, is also expected to attend a fundraising event while he is in the Chicago area ahead of a deadline for federal fundraising records.

Persons: Joe Biden, Biden, Ronald Reagan, Lael Brainard, Donald Trump, Trump, Ronna McDaniel, Trevor Hunnicutt, Jamie Freed Organizations: U.S, Reuters, Biden, Federal Reserve, Democratic, Republican, Biden's, Economic, Nielsen, Republican National, Thomson Locations: Chicago, U.S

☆ Why the Fed paused its rate hikes: It’s tired of playing a giant guessing game
▼ + stars: | 2023-06-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Following the policy announcement, Fed Chair Jerome Powell noted that rate hikes typically filter through the economy with “uncertain lags.” In other words, the Fed has been playing an (educated) guessing game, taking action before it understands the results. What’s happening: As much as Federal Reserve officials wish they could, they can’t just wave a wand and lower inflation rates. Here’s how the system works: First, the Fed raises interest rates for overnight loans between financial institutions. Less demand for goods reduces incentives to raise prices and inflation rates will fall. That means they’re able to draw their own conclusions about the trajectory of inflation rates.

Persons: Jerome Powell, ”, Jack McIntyre, McIntyre, ” Powell, Powell, Yung, Yu Ma, Ma, Biden, Joe Biden, Sam Fossum, you’re, ” Biden, Lael Brainard, Greg Wallace, Sen, John Thune of, Republican Sen, Jerry Moran Organizations: New, New York CNN, Federal Reserve, Brandywine Global, BMO Wealth Management, Ticketmaster, “, Economic, Federal Aviation Administration, FAA, Republican Locations: New York, “, John Thune of South Dakota, Kansas

☆ Ticketmaster parent Live Nation, others agree to show 'junk fees' after Biden pressure
▼ + stars: | 2023-06-15 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

WASHINGTON — Several large companies, including Ticketmaster parent Live Nation , are vowing to end surprise "junk fees" following a pressure campaign from the Biden administration. "Junk fees" are extra costs tacked on at the end of purchases, often for concert tickets, resorts and rentals. President Joe Biden has made ending the practice a priority and invited representatives from Live Nation, Airbnb , SeatGeek and others to meet with him Thursday. Both Live Nation and SeatGeek agreed in advance of the meeting to commit to show all fees up front for ticket purchases, the White House said. "It is also just a first step towards addressing junk fees in the economy."

Persons: Joe Biden, Jens Stoltenberg, Biden, SeatGeek, Lael Brainard Organizations: NATO, White, WASHINGTON, Ticketmaster, Live, xBk, Economic Locations: Washington ,, SeatGeek, . Iowa

☆ Biden to announce Live Nation and Ticketmaster will allow consumers to see all fees up front
▼ + stars: | 2023-06-15 | by ( Sam Fossum | ) edition.cnn.com time to read: +3 min

“President Biden has been working to lower costs for hardworking families by bringing down inflation, capping insulin prices for seniors, and eliminating hidden junk fees,” said National Economic Council Director Lael Brainard in a written statement. These include Live Nation, SeatGeek, xBk, Airbnb, the Pablo Center at the Confluence, TickPick, DICE, and the Newport Festivals Foundation. Ticketmaster has also promised to add a feature to allow customers to see the full price upfront for all other tickets sold on its platform. Live Nation and Ticketmaster merged to form Live Nation Entertainment in 2010. It is also just a first step towards addressing junk fees in the economy,” a White House fact sheet states.

Persons: Joe Biden, “, Biden, ”, Lael Brainard, ” Biden Organizations: CNN, Ticketmaster, Economic, White, Pablo Center, Newport Festivals Foundation, House, Entertainment, Biden’s Transportation Department, Competition Locations: SeatGeek, Iowa

☆ White House hails the end of the supply chain nightmare
▼ + stars: | 2023-06-08 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —White House officials on Thursday hailed the unclogging of supply chains and suggested that further easing of bottlenecks will help cool inflation. “Critical supply chains are significantly more fluid and resilient than they were when the President took office,” White House officials wrote in a supply chain scorecard shared first with CNN. The traffic jam of vessels backed up ports, once a symbol of the supply chain crisis, has all but disappeared. The White House economists said it is a “positive development for consumers” and struck a hopeful tone it will continue. The blog post said there is a high correlation between producer prices and supply chain pressures, suggesting the easing in supply chain pressure may continue to cool inflation.

Persons: ”, Biden, Biden’s, ” Lael Brainard, ” Torsten Slok, “ Organizations: New, New York CNN, White, CNN, National Economic Council, Consumers, IRI, Shipping, New York Federal, Apollo Global Management, Defense, EV, White House Council, Economic Advisers, Institute of Supply, Federal Reserve Locations: New York, Ukraine

☆ Biden’s Debt Deal Strategy: Win in the Fine Print
▼ + stars: | 2023-06-03 | by ( Jim Tankersley | ) www.nytimes.com time to read: +2 min

Mr. Biden had insisted for months that he would not negotiate over raising the borrowing limit. But privately, many aides had been planning on talks all along — though they refused to admit those talks were linked to the debt limit. The Biden team reasoned that it would have to negotiate fiscal issues this year anyway, both on appropriations bills and on programs like food stamps that are included in a regularly reauthorized farm bill. It featured work requirements and measures to speed fossil fuel projects, and it raised the debt limit for one year. Mr. Biden, under fire from business groups and others who feared the standoff could result in the United States running out of money before the debt limit was raised, soon agreed to designate a team of negotiators.

Persons: Biden, Lael Brainard, Janet L, McCarthy, Young, Michael Linden, Louisa Terrell, Ricchetti Organizations: Biden, National Economic Council, Social Security, White House Locations: United States

☆ Watch Fed Chairman Jerome Powell speak live on monetary policy
▼ + stars: | 2023-05-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Federal Reserve Chairman Jerome Powell speaks Friday at the "Perspectives on Monetary Policy" panel at the Thomas Laubach Research Conference the central bank is hosting in Washington, D.C. The remarks come with markets suddenly divided on where the Fed goes from here. Market pricing Friday morning indicated about a 35% probability the Fed might approve another interest rate hike when it meets in June, according to the CME Group. The Fed next week will release minutes from its meeting earlier in May at which it approved its 10th interest rate hike since March 2022. Read more:Dallas Fed President Logan says current data doesn't justify pausing rate hikes yetFed Governor Philip Jefferson named as new vice chair to succeed Lael BrainardFed increases rates a quarter point and signals a potential end to hikes

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