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The Latest Breaking News from Jared Bernstein

How Biden changed his tune on inflation as prices soared and the midterms loomed

At first, the White House said inflation would be a temporary issue. But it quickly became the top economic priority — and major source of midterm political pain — for President Biden.

WEKU

Biden looks to increase oil supplies ahead of midterm voting

President Joe Biden wants to past fossil fuels but he's looking to increase oil supplies ahead of next month’s midterm elections

The Independent UK

White House’s Rouse says Fed inflation push starting to work

The Federal Reserve’s interest-rate hikes to bring inflation under control are starting to work, while President Joe Biden is doing everything possible to support the U.S. central bank, two administration economic advisers said.

Tribune News Service

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Forget trickle down, what the UK needs is middle-out economics

Liz Truss is banking on a failed policy. The focus should be on the real driving force behind economic growth

The Guardian - UK

Expected Interest Rate Hike Will Add $2 Trillion to the Deficit

So much for the idea that low interest rates meant the government could borrow endlessly with no consequences.

Reason

Biden adviser says Fed hikes are helping to cool housing prices

The U.S. Federal Reserve, which meets this week to decide on interest rates, has helped to cool the overheated housing market even though inflation across the country is still “uncomfortably high,” White House economic adviser Jared Bernstein said.

Tribune News Service

White House economic adviser predicts gas prices will continue to slide throughout July

Good news for consumers after weeks of national average price hovering around $5.00 per gallon

The Independent UK

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US envoy confident Gulf oil producers will boost production

WASHINGTON — A U.S. energy envoy said he is confident Gulf producers will increase oil output after President Joe Biden’s visit to Saudi Arabia, where he met with regional leaders.

Tribune News Service

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