Michael Kikukawa @mkikukawa46
@WhiteHouse Assistant Press Secretary whitehouse.gov Joined January 2021-
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The NY Fed's measure of inflation persistence (the "multivariate core trend" rate) declined to 2.6% in March from a downwardly revised 2.7% in February (originally 2.9%) and from 3% in January newyorkfed.org/research/polic…
AXIOS: “.. Average household wealth for those under 40 in the U.S. is up 49% from its pre-pandemic level ..” 🇺🇸 @axios @EmilyRPeck @amprog axios.com/newsletters/ax…
WALMART U.S. CEO: ".. we are now seeing prices that are in line with where they were 12 months ago. I haven’t been able to say that for a few years .. The last few weeks, we've taken even more prices down in areas like produce and meat and fresh food.” $WMT @ABC…
Over the last twelve months, total PCE prices rose 2.7%, a bit higher than last month, but still down from the 4.4% yearly increase in March 2023. Core PCE prices grew by 2.8%, tied with February for the lowest yearly rate since March 2021. 4/
Real US investment in the construction of factories and other manufacturing structures hits another record high this quarter in the wake of the CHIPS Act and IRA!
GOLDMAN: While #GDP headline was a miss, “the composition was not as soft, as inventories and foreign trade accounted for -1.1pp of our -1.5pp forecast error, and domestic demand growth proceeded at a strong pace of +2.8% annualized.”
Real GDP growth came in at 1.6% in Q1, softer than expected. But that appears to be driven by weakness in volatile components, especially net exports. Private domestic final purchases--"core GDP" made up of consumption & fixed investment--grew 3.1%, a very strong print.
GDP growth came in a bit below expectations at a 1.6% annual rate in the first quarter. But much of the slowdown was in non-inertial items like inventories (-0.35pp) and net exports (-0.86pp). The better signal of final sales to private domestic purchasers was 3.1%.
GDP growth was < yesterday's expectation & slightly below what was expected in Feb. But well above what we had expected earlier. Survey of Professional Forecasters expectations for real GDP in Q1: Feb-23: 1.3% May-23: 1.0% Aug-23: 1.1% Nov-23: 0.8% Feb-23: 2.1% Actual: 1.6%
Bottom line: The US economy is slowing, but it's still very solid. This isn't a recession. It's just more normal growth after a surge in the 2nd half of 2023. -Consumers are back to spending big on services and being choosy on goods -Federal gov't spending is moderating after…
President Biden speaks after signing a $95 billion foreign aid package into law. "It's going to make America safer. It's going to make the world safer. And it continues America's leadership in the world."
Biden, at the foreign aid bill signing, shouts out all four congressional leaders: "They don't always agree, but when it matters most, they stepped up and did the right thing." "History will remember this moment."
🎉 Big change from @USDOT: If your flight gets delayed or canceled, airlines now have to refund you automatically in CASH. Refunds cover: - Delayed flights (3+hrs domestic, 6+ hrs int’l) - Airport changes - Added connections - Service class downgrade - Accessibility changes
🎉 Big change from @USDOT: If your flight gets delayed or canceled, airlines now have to refund you automatically in CASH. Refunds cover: - Delayed flights (3+hrs domestic, 6+ hrs int’l) - Airport changes - Added connections - Service class downgrade - Accessibility changes
Biden administration issues new rule forcing airlines that cancel or significantly delay flights to give passengers a CASH REFUND and not some voucher bullshit. And Biden forces airlines/booking sites to disclose add on fees for bags, etc... politico.com/news/2024/04/2…
Today, we answered history’s call at this critical inflection point. With the signing of our national security package, we tell the world that America stands resolutely for democracy and freedom, and against tyranny and oppression.
BIDEN has signed th $95B Ukraine, Taiwan, Israel aid bill
Our department just issued rules to protect people from hidden airline fees and to require airlines to give passengers automatic cash refunds when owed. No more having to fend for yourself and jump through hoops to get your money back—airlines will have to automatically do this.
What is the Biden admin cooking on labor recently, holy shit
Folks, my Administration has announced two new big steps to get American workers a better deal. Let me explain: First, the @FTC is cracking down on "non-compete agreements," contracts that employers use to prevent their workers from changing jobs even if that job will pay a few…
Jeff Zients @WHCOS
593K Followers 770 Following White House Chief of Staff. Husband. Dad of 4. Bagel Enthusiast. #Team46Jen Psaki @jrpsaki
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177K Followers 10K Following Reporting on foreign policy. Current: Diplomatic Substack, Just Security ed bd. Al-Monitor Politico Foreign Policy alum. lkrozen threads, lkrozen.bsky, at gmailTetsuo SHINTOMI @TShintomi
2 Followers 167 FollowingCARLOS HENRIQUE MINUC.. @minucci_ca84708
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Great news about two excellent neighbors next door!
White House staffing news: @RFriedlander46 is the new NEC chief of staff and @mkikukawa46 is being named a senior communications adviser. bloomberg.com/news/articles/…
White House staffing news: @RFriedlander46 is the new NEC chief of staff and @mkikukawa46 is being named a senior communications adviser. bloomberg.com/news/articles/…
US & euro area inflation are now similar--despite the fact that the U.S. economy has been growing much more strongly than the euro area. The U.S. was much higher, then it was Europe's turn, now both are down & roughly convergent (euro area a little higher, likely not for long).
Our newest airline regulation is all about making refunds easier for passengers. When your flight is cancelled for any reason, you are entitled to an automatic cash refund. No haggling, no excuses.
When @POTUS thinks of climate, he thinks of jobs. And union workers like Patrick and Dave know firsthand how the Biden-Harris Administration’s investments are creating good-paying and union jobs while building a clean energy economy.
Last night, we toasted to a free press, To an informed citizenry, And to an America where freedom and democracy endure.
.@POTUS Joe Biden opens up about the death of his son Beau and the promise he made to him before he passed.
I will not rest until every hostage, like Abigail, ripped from their families and held by Hamas is back in the arms of their loved ones. They have my word. Their families have my word.
Of all the things I was lucky enough to work on, this might be my favorite. You shouldn’t have to pay money to pay your taxes. As this program continues to grow, most people will get pre-populated forms and be able to file their taxes with a few clicks in a few minutes.
The IRS says 140,803 people successfully filed their taxes with the agency's free direct file pilot program – exceeding their goal of 100,000.
Biden: "There are some who call you the enemy of the people. That's wrong and it's dangerous. You literally risk your lives doing your job. You do. Covering everything from natural disasters to pandemics to wars and so much more. Some of your colleagues have given their lives..."
@WhiteHouse President Biden: We have the strongest economy in the world. Unemployment hasn't been this low for 50 years. We're exporting American products and creating jobs.
American workers are seeing wages grow faster than prices as our economy remains strong. President Biden will keep working to build an economy where the middle class has a fair shot and no one is left behind.
Biden announced 7 more judicial nominees this morning. All to district courts. One of them, Danna Jackson, is a tribal attorney for the Confederated Salish and Kootenai Tribes in Pablo, MT. If confirmed, she'd be the first Native American lifetime federal judge in MT.
Biden says it took longer than it should have for the bill to get to his desk: "Now, we need to move fast, and we are."
President Biden says he has signed the $95 billion foreign aid bill for Ukraine, Israel and Taiwan. “It’s a good day for America, it’s a good day for Europe and it’s a good day for world peace.”
Biden says military aid will be shipped to Ukraine in HOURS. "I'm making sure the shipments start right away. In the next few hours--literally in a few hours--we are going to begin sending equipment to Ukraine for air defense munitions, artillery for rocket systems, and armored…
President Biden: "As I've argued for months, this is directly - directly - in the United States' national security interests. If Putin triumphs in Ukraine, the next move of Russian forces could very well be a direct attack on a NATO ally."
Today, we answered history’s call at this critical inflection point. With the signing of our national security package, we tell the world that America stands resolutely for democracy and freedom, and against tyranny and oppression.