International
Biden, Fed chair discuss US inflation at White House
AFP
President Joe Biden on Tuesday holds a rare White House meeting with the head of the Federal Reserve, Jerome Powell, to discuss soaring inflation and White House attempts to tame the politically damaging price surge ahead of midterm elections.
In their first such meeting this year, Biden and Powell will “discuss the state of the American and global economy,” the White House said, with an emphasis on inflation.
This is Biden’s “top economic priority,” the White House said, “as we transition from a historic economic recovery to stable, steady growth that works for working families.”
Inflation of more than eight percent is casting a heavy shadow on Biden’s claims to be steering the US economy back to health after the Covid-19-induced crash.
Employment is back near pre-pandemic levels and growth is strong, but savage price increases for essentials including food and fuel are driving growing public dissatisfaction.
The Fed has raised rates three quarters of a percentage point, kicking off what central bank officials say could be a series of hikes aimed at calming down the economy, although there are fears that the unintended result may be recession.
Federal Reserve Governor Christopher Waller said Monday that he backs several more half-point rate hikes — “until I see inflation coming down closer to our two percent target.”
Biden is scrambling to ease the pressure on American consumers ahead of November midterm elections in which his Democrats are forecast to lose control of Congress to the Republicans.
Biden’s own approval ratings are barely in the 40 percent range, reflecting his inability to sell voters on his upbeat message of US economic recovery.
As the election approaches, Biden has pivoted to more aggressively trying to explain the inflation phenomenon as a byproduct of forces beyond his control.
These include the Russian invasion of Ukraine, which triggered Western sanctions disrupting the huge Russian energy industry. President Vladimir Putin’s invading forces, meanwhile, have all but put a halt to Ukraine’s important wheat exports.
Biden calls the effect “Putin’s price hike.”
Writing in the Wall Street Journal on Monday, Biden underlined the independence of the Federal Reserve, but noted that the central bank has “a primary responsibility to control inflation.”
Biden recalled that his predecessor Donald Trump frequently launched political attacks on the Fed and that other presidents had also “sought to influence its decisions inappropriately during periods of elevated inflation.”
“I won’t do this,” he pledged.
In the op-ed, Biden said his longterm plan for economic health includes easing the pace of post-Covid recovery to more sustainable levels, boosting economic productivity and reducing the federal budget deficit.
International
7 in 10 mexicans born poor stay poor, new report finds
Seven out of ten Mexicans born into poverty remain poor throughout their lives, highlighting an urgent need for public policies focused on promoting social mobility through equal opportunity, according to civil society organizations.
The 2025 Social Mobility Report in Mexico, published by the Espinosa Yglesias Center for Studies (CEEY), reveals that 73% of individuals born into the bottom 20% of income households in Mexico — Latin America’s second-largest economy — continue to live in poverty based on income.
The report signals a worrisome stagnation in social mobility, defined as the ability of individuals to improve their socioeconomic standing compared to that of their parents. This lack of upward movement indicates that one’s economic origins are largely inherited, according to CEEY.
Geographically, disparities are stark:
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In northern Mexico, 37% of those born in poverty remain there.
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In the south, that number rises dramatically to 64%.
Gender gaps are also evident. Among those born in wealthier households, women experience less upward mobility, with a rate of 47% compared to 53% for men.
The report also notes that 48% of economic inequality in Mexico stems from inequality of opportunity — placing Mexico among the top ten countries with the highest opportunity inequality across 50 nations analyzed globally.
International
Spain hits record 46°C in June amid scorching heatwave
Spain registered a record-breaking temperature of 46°C (114.8°F) on Saturday, June 28, in El Granado, Huelva — a southern town near the Portuguese border — marking the highest temperature ever recorded in June in the country, according to Spain’s national meteorological agency, Aemet.
The temperature was officially recorded at 4:40 p.m. local time, surpassing the previous June record of 45.2°C (113.4°F)set in Seville back in 1965, also in the Andalusia region.
Like many parts of Southern Europe, Spain is experiencing a severe heatwave, with large areas of the country facing temperatures above 40°C even though summer has just begun.
As one of Europe’s countries most vulnerable to climate change, Spain has endured its three hottest years on recordfrom 2022 to 2024, marked by repeated heatwaves and temperature extremes.
Climate scientists have long warned that global warming is amplifying the intensity, frequency, and duration of extreme weather events such as heatwaves and droughts — trends now evident across the Iberian Peninsula and the broader Mediterranean region.
International
Trump administration sues Los Angeles over sanctuary city policies
The Republican administration of Donald Trump filed a lawsuit on Monday against Los Angeles officials, challenging the city’s sanctuary policies as illegal amid an intensifying federal immigration crackdown.
The Department of Justice accused the Democratic-led city of interfering with federal immigration enforcement, arguing that its sanctuary policies have contributed to “violence, chaos, and attacks on law enforcement” recently seen in Los Angeles.
“The sanctuary city policies were the cause of violence, chaos, and attacks on law enforcement that Americans recently witnessed in Los Angeles,” said Attorney General Pamela Bondi in an official statement.
The lawsuit, filed in a California federal court, names Mayor Karen Bass, City Council President Marqueece Harris-Dawson, and the entire City Council as defendants.
While Los Angeles had long been considered a sanctuary city for immigrants, the City Council officially adopted the designation through a municipal ordinance in November last year, following Trump’s election to the presidency.
The legal action seeks to limit local authorities’ cooperation with federal immigration agents under Trump’s policies.
With over one-third of its population being immigrants, Los Angeles has become a flashpoint in the battle against Trump’s anti-immigration agenda, which began with his campaign promise to deport millions.
Tensions in the city escalated earlier this month after an increase in workplace immigration raids, sparking mass protests downtown. The situation further intensified when Trump overrode California Governor Gavin Newsom and ordered the deployment of thousands of National Guard troops and 700 U.S. Marines to the area.
7 in 10 mexicans born poor stay poor, new report finds
Spain hits record 46°C in June amid scorching heatwave
Trump administration sues Los Angeles over sanctuary city policies
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