U.S. forces intercepted Iranian missiles and drones aimed at the Strait of Hormuz, Kuwait and Bahrain as talks with Tehran stalled. Fighting in Lebanon between Israel and Hezbollah is further complicating efforts to end the wider conflict.
Posts tagged as “the National Economic Council”
Four Democratic senators are calling on Treasury Secretary Janet Yellen to take action against trusts and financial vehicles used by the wealthiest individuals to avoid taxes. This comes as Congress is making no progress on how to avert a debt ceiling crisis and the recent collapses of some banks are deepening the stalemate. The senators’ letter is a step towards ensuring that the wealthiest individuals pay their fair share, but it remains to be seen whether the Treasury Secretary will take action on the proposed regulations.
The US government has intervened to ensure that customers of Silicon Valley Bank and Signature Bank, which both failed this week, will have access to all of their money starting Monday, March 13. The Federal Deposit Insurance Corporation has created a “bridge bank” for SVB deposits and another for Signature Bank deposits, allowing customers to access both their insured and uninsured deposits. Questions have been raised about the stability of the banking system, but the US government has assured that losses related to SVB's collapse will not be borne by taxpayers.
The White House has announced the appointment of Lael Brainard of the Federal Reserve as the new director of the National Economic Council. Brainard will be tasked with helping President Biden implement his economic agenda, including pandemic relief, infrastructure, and tax bills. However, the U.S. is currently at risk of defaulting on its debt in July if Congress does not act to raise or suspend the debt limit. Brainard's expertise and experience will be essential in helping the White House navigate this difficult situation.
President Joe Biden is set to deliver his second State of the Union address Tuesday night, addressing the nation's economic anxiety, racial divisions, and foreign policy issues. He will focus on his plans for the economy, infrastructure, climate change, and the coronavirus pandemic, while Republicans will be watching warily and sizing up Biden's fitness for a likely reelection bid. The speech is scheduled to begin at 9 p.m. EST.
President Joe Biden announced Thursday that Brian Deese, his National Economic Council Director, is stepping down from his role. Biden praised Deese's work during the COVID-19 pandemic, noting his contribution to the passage of key legislation and transition of the economic recovery. No details were provided on a successor or timing of Deese’s departure.
President Joe Biden has announced Jeff Zients as his next chief of staff, replacing Ron Klain who is expected to leave following the President's State of the Union address. Zients has a long history of public service, including roles in the Obama administration, and is seen as a positive step forward for the Biden administration. He is expected to take on the role of chief of staff shortly after Klain's departure, and it is unclear who will replace Zients in his current role as coordinator of the Covid-19 response.
President Joe Biden is set to appoint Jeff Zients, his former COVID-19 policy czar, as his next White House chief of staff. Zients brings a wealth of experience to the role, having served in high-ranking roles in the Obama administration. If confirmed, he will become the fourth chief of staff of the Biden administration and is expected to take the job shortly after the president's State of the Union address.