The White House focuses on enhancing supply chain resilience and addressing supply chain challenges for economic growth.
Managing inflation and unemployment levels while prioritizing economic recovery and social equity is crucial for the economy.
Deep dives
Elevated Inflation and Economic Recovery
The podcast explores the factors driving the elevated inflation in the US economy, attributing it to a shift in demand from services to goods and supply chain disruptions. The discussion highlights the historical strengths of the US economy in facing elevated prices from a position of economic strength.
Energy Market Dynamics
The episode delves into the impact of higher energy costs on inflation, particularly focusing on oil prices. It discusses the market dynamics influencing oil prices, the anticipated ramp-up in US domestic production, and the global factors affecting oil supply.
Supply Chain Resilience and Infrastructure Investment
The discussion covers the efforts to enhance supply chain resilience, emphasizing the progress made in addressing supply chain challenges and building industrial resilience in the US. It also highlights the importance of infrastructure investments in ports, roads, bridges, and high-speed internet for economic growth.
Monetary Policy and Economic Concerns
The conversation touches on the potential impacts of monetary policy decisions on the overall economy, including concerns about rate hikes affecting economic growth and labor market dynamics. It also addresses the importance of managing inflation and unemployment levels while prioritizing economic recovery and social equity.
GDP is booming. The labor market is booming. However inflation is elevated, and consumer sentiment is deeply depressed. So where does the White House go next with its economic strategy? On this episode, we speak with Brian Deese, the director of the National Economic Council under President Joe Biden. Deese walks us through what the White House has done over the last year on supply chains, what's working, and where the administration is going next with its economic agenda.