Readout of President Joe Biden Meeting with Economic Team

The White House

The President and Vice President met with members of their economic team – including the Secretaries of Treasury and Commerce, and the Chair of the Council of Economic Advisers – for an update on global economic developments. They reported that the U.S. economic strategy, focused on long-term growth and investment, increased manufacturing, and fiscal discipline, has positioned our country to navigate challenging global times from the strongest possible position. The President reiterated his commitment to bring down prices, including by implementing the historic reforms in the recently enacted Inflation Reduction Act and CHIPs and Science Act, with the goal of transitioning to more stable growth without giving up our historic economic gains. He also directed the team to press the energy industry to ensure that the drop in global oil prices is passed along at the pump to consumers.”

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