July 26, 2022 19:17 GMT
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Brian Deese, the director of President Biden's National Economic Council is shortly due to join White House Press Secretary Karine Jean-Pierre at the White House press conference.
- Livestream here: https://www.youtube.com/watch?v=03gywFVE1dc&featur...
- Yesterday, in an interview with MSNBC Deese said the economy "slowing" is necessary to "operate through this transition."
- Deese: "We are seeing a slowing. That is not only expected but necessary as we operate through this transition... Our focus is in terms of diagnosing the economy. But equally important is prescribing. We need to do more to lower prices for people right now — energy, prescription drugs, other areas, we could make a lot of progress right now. The more progress we make, the more likely it is that we could make this transition as I said without giving up the economic gains we’ve made."
- Deese is expected to build on what Biden and Treasury Secretary Janet Yellen have said in recent days: That the administration is increasingly optimistic about avoiding a recession.