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The Latest Breaking News from Brian Deese

White House mulling potential Yellen departure after midterms

It would be the first and most consequential exit in a potentially broad reorganization of Biden's economic team.

Axios

Bumps, bipartisanship in long fight for semiconductor bill

President Joe Biden will soon be signing into law a major bill to revive the U.S. computer chip sector

The Independent UK

After 2 Consecutive Quarters of Negative Economic Growth, Is America in a Recession?

Most Americans believe so.

Reason

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Biden administration tries to get ahead of red-hot inflation report

WASHINGTON — White House officials launched a defensive strike Tuesday against what they expect will be a dour report marking another month of soaring inflation.

Tribune News Service

White House braces country for hot consumer inflation report

Annual headline inflation is forecast to increase to 8.8% for June, up from 8.6%.

Axios

Biden administration tries to get ahead of red-hot inflation report - Roll Call

White House officials launched a defensive strike Tuesday against what they expect will be another month of soaring inflation.

Roll Call

Yellen says high inflation locked in for the rest of 2022

WASHINGTON — Treasury Secretary Janet Yellen said that “unacceptably high” prices are likely to stick with consumers through 2022, and that the U.S. economy is likely to slow down.

Tribune News Service

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Yellen says US recession not ‘inevitable’ but expects ‘economy to slow’

Treasury secretary says ‘inflation unacceptably high’ and it is Biden’s ‘top priority to bring it down’

The Guardian - US

Refiners led by Exxon face Biden’s wrath as profits explode

Exxon Mobil Corp., Marathon Petroleum Corp. and the other top U.S. oil refiners are on course to reap a combined $10 billion in profits this quarter even as U.S. President Joe Biden lambastes the industry for closing plants.

Tribune News Service

Contentious CNN interview about baby formula derailed as camera collapses on set

Mr Deese attempted to catch the camera before it tumbled to the ground

The Independent UK

White House says US prepared to handle economic storms as JPMorgan boss predicts ‘hurricane’ ahead

JPMorgan Chase CEO Jamie Dimon is predicting an economic ‘hurricane’ ahead even as the White House says the US economy remains strong

The Independent UK

BTS-mania sweeps the White House as boy band speaks on anti-Asian hate

Young fans peer through the gates while K-pop sensations meet the president and address the press

The Guardian - US

Biden to stress Fed independence in Powell meeting, Deese says

President Joe Biden will use his meeting with Federal Reserve Chairman Jay Powell to stress that he’s giving the central bank “space to operate” independently to address the inflation crisis, White House economic adviser Brian Deese said.

Tribune News Service

US military plane flies in 35 tonnes of baby formula from Germany

The first shipment of infant formula lands in Indianapolis to address a critical shortage in the US.

Al Jazeera

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Tribune News Service

US gets first 70,000 pounds of baby formula to counter shortage

A planeload of more than 70,000 pounds of baby formula arrived in the U.S., starting an emergency program to alleviate a national shortage that has left some parents scrounging to feed their children.

Tribune News Service

Biden adviser says US economy can withstand Fed inflation fight

White House economic adviser Brian Deese stopped short of ruling out a U.S. recession as the Federal Reserve combats inflation, saying the central bank needs space to do its job.

AFP

US flight brings tons of needed baby formula from Germany

Washington (AFP) - A US military plane bringing several tons of much-needed baby formula from Germany landed Sunday at an airport in Indiana as authorities scramble to address a critical shortage.

Axios

Nestlé baby formula shipment lands in U.S. to ease shortage

The shipment will account for 15% of the need for specialty medical grade formula.

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news in one place.

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The Independent UK

Abbott CEO says ‘sorry’ over baby formula shortage and vows to ensure ‘this never happens again’

Chairman and CEO of the embattled company Robert Ford insists the company is taking steps ‘to ensure this never happens again’

AFP

Lack of competition fueled US baby formula shortage

Washington (AFP) - There's no end in sight to America's shortage of baby formula -- and the crisis has highlighted the lack of competition that has spread to all parts of the US economy, even essential ones such as food for infants.

AFP

US baby formula shortage could last for some time: official

Washington (AFP) - The nationwide shortage of baby formula in the United States could last for some time, a top White House economic adviser cautioned on Friday.

Tribune News Service

US economy now ‘facing rocky waters,’ Biden aide Deese says

President Joe Biden’s top economic adviser said that the U.S. may see some difficulties as it contends with elevated inflation and further supply-chain challenges stemming from COVID lockdowns in China and the Russian invasion of Ukraine.

Tribune News Service

Analysis: Biden’s actions and words since Warsaw align with walked-back declaration that Putin must go

WASHINGTON — The White House might have walked back President Joe Biden’s declaration that Vladimir Putin “cannot remain in power” in Russia, but his words and actions since then fall in line with the boldest statement of his term.

The Independent UK

Biden bets strong job market will shield economy from slump

The Biden White House is betting the U.S. economy is strong enough to withstand the threats to growth posed by inflation and the war in Ukraine

Roll Call

Biden’s actions and words since Warsaw align with walked-back declaration that Putin must go - Roll Call

White House aides walked back President Biden's call for Vladimir Putin to leave power, but his actions since align with the bold words.

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