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Press Briefing @ 1300ET; National Economic Council No.2 To Speak

WHITE HOUSE

Today's White House press conference will take place at 1300ET (1800BST, 1900CET). Press Secretary Karine Jean-Pierre will be joined by the Deputy Director of the National Economic Council Bharat Ramamurti.

  • Inclusion of the second-highest official at the NEC comes as market focus has been on Fed Chair Powell's comments at Jackson Hole.
  • Earlier today the White House released a statement from President Joe Biden on PCE inflation data:
    • "Last month incomes were up, and overall prices were down – that’s according to an important measure of inflation, which showed prices actually came down nationwide last month. In other words, while the price of some things went up, the price of other things went down by even more. The American people are starting to get some relief from high prices, and the Inflation Reduction Act that I signed last month will also help bring prices down. Gas prices decreased every day this summer – the fastest decline in over a decade. And, today’s report showed that personal income was up last month as well. We have more work to do. We have to help families who have been squeezed by decades living paycheck to paycheck. But today confirms that our economic plan is building the economy from the bottom up and the middle out and we are making progress."
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