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The Latest Breaking News from Lael Brainard

Biden says the economy is booming. Some voters looking ahead to 2024 don't buy it

Cindy Leonard took a break from the summer heat earlier this month to cool off on the water steps on Pittsburgh’s North Shore. The price was right, she said — free. “With the price of groceries going up, gas, electrical bills, you have to watch what you buy,” she said.

Tribune News Service

Why inflation is losing its punch — and why things could get even better

Annual inflation fell to 3% in June, the lowest since March 2021. That probably won't stop the Federal Reserve from raising rates again, but this month's expected hike could be the last.

WEKU

Brainard sees potential for near-2% US inflation by November 2024

President Joe Biden’s chief economic adviser said that inflation numbers should improve through the second half of the year and that there’s a reasonable chance the pace could get down around 2% by the time of the November 2024 election.

Tribune News Service

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President Biden To Address U.S. Economy In Chicago

Speech to cover job growth, inflation, skills development, investments, and Biden administration's focus on key sectors

Zenger

Biden unveils election battle plan: 'Bidenomics'

WASHINGTON - President Joe Biden is making a big bet on the US economy powering him to re-election next year with the unveiling of a "Bidenomics" pitch to voters this week.

Bangkok Post

Watch as Olivia Dalton and Lael Brainard hold White House press briefing

Watch as Olivia Dalton, the White House deputy press secretary, holds Tuesday’s briefing.

The Independent UK

Embracing ‘Bidenomics’ term, president seeks credit for economy

Biden will give a speech Wednesday seeking to take credit for the economy at a time when the public may not feel better off.

Roll Call

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Biden 'optimistic' on debt talks with Republicans as default looms

Rehoboth Beach (United States) (AFP) - President Joe Biden said Sunday he remains "optimistic" about finding an agreement with his Republican opponents to raise the US debt limit and avoid a default, which his administration warned would cause "catastrophic" consequences.

AFP

President Biden 'optimistic' on US debt talks with Republicans

President Joe Biden and congressional leaders will likely resume talks on Tuesday at the White House over the debt limit, the president said Sunday, as the nation continues to edge closer to its legal borrowing authority with no agreement in sight.

France 24

Biden, congressional leaders likely to meet Tuesday for talks on raising the debt limit

President Joe Biden says he and congressional leaders will likely resume talks on Tuesday at the White House over the debt limit as the nation continues to edge closer to its legal borrowing authority with no agreement in sight

The Independent UK

Biden admin warns of 'catastrophic' default as debt talks continue

Washington (AFP) - President Joe Biden's administration again warned Sunday of "catastrophic" consequences for the US economy if the country defaults, as negotiations with Republicans over a debt deal are expected to resume in the week ahead.

AFP

Biden nominates Philip Jefferson to number 2 spot at the Fed

Washington (AFP) - US President Joe Biden on Friday nominated Philip Jefferson to the number two job at the Federal Reserve, a position left vacant since Lael Brainard left for the White House in February.

AFP

Michael Hiltzik: How Trump's frenzy of deregulation killed Silicon Valley Bank

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.

Los Angeles Times

Rouse to depart as one of Biden’s top economic aides on March 31

WASHINGTON — Cecilia Rouse, one of President Joe Biden’s senior economic advisers, will leave the administration on Friday, marking the latest personnel shift in the White House.

Tribune News Service

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Tribune News Service

Biden sidesteps banking turmoil as he calls on Congress to act

As the global banking crisis stretches into its third week, President Joe Biden has turned to a familiar playbook — lay low and point the finger at Congress.

Salon

Top GOPer: No need for tougher bank rule

Critics say Mike Crapo's law exempting SVB and others from stricter requirements led to collapse

Roll Call

Lawmakers from both parties skeptical of legislation over SVB - Roll Call

President Biden's call for a legislative response to the SVB collapse is meeting skepticism from members of both parties on Capitol Hill.

Axios

Inside Biden's SVB move to stop future bank runs

The decision to protect depositors carried some risks.

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Tribune News Service

Eberly emerges as front-runner to be Biden’s Fed vice chair pick

WASHINGTON — Northwestern University Professor Janice Eberly is the front-runner in the White House search for a successor to Lael Brainard as vice chair of the Federal Reserve, people familiar with the matter said.

Tribune News Service

The Fed doesn’t care about Wall Street as much as Wall Street thinks

There’s something of a ritual performed each time Federal Reserve Chair Jerome Powell speaks to the press: A reporter asks Powell about financial conditions; he says they’ve tightened a lot; the Wall Street crowd snickers.

Fortune

Nearly half of people who joined the Great Resignation last year beat inflation with a pay bump

It pays to job-hop.

Roll Call

Senate pressure mounts on Biden to nominate first Latino to Fed - Roll Call

Several Senate Banking Committee Democrats are pushing President Joe Biden to nominate a Latino for the Federal Reserve Board.

Tribune News Service

Biden eyes Fed vacancy with Goolsbee reported to be in mix

White House officials have reached out to a key Democratic ally in the Senate to discuss filling the vacant role of Fed vice chair, with the Wall Street Journal reporting that Chicago Fed President Austan Goolsbee is under consideration for the post.

Axios

Departure of top Biden economic adviser leaves West Wing power vacuum

Deese was instrumental in delivering Sen. Joe Manchin’s vote for Biden’s signature bill.

AFP

Biden names Fed vice chair as top economic advisor

Washington (AFP) - US President Joe Biden has chosen Federal Reserve Vice Chair Lael Brainard to be his top economic advisor, ahead of a potential reelection campaign and as the administration battles stubbornly high inflation.

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