Biden urges confidence in economy as inflation concerns mount: The Note

But the economy is an area where a majority of Americans don’t have confidence.

By
Averi Harper
,
Alisa Wiersema
 and
Meg Cunningham
November 23, 2021, 6:02 AM ET
6 min read

The TAKE with Averi Harper

As concerns mount on inflation, President Joe Biden gave remarks touting his handling of the economy.

"I'm proud to say if you look at my presidency so far, it's a jobs presidency, and it's a small business presidency," Biden said, later adding, "Here's what the record shows. Record job creation. Record economic growth. Record new small business creation. That's the story that should give us confidence about the economy that we're building. Confidence in ourself. Confidence in the future."

The president urged confidence in an area where a majority of Americans don’t have it. The latest ABC News/Washington Post poll found that 70% of Americans viewed the state of the economy negatively.

In those same remarks, Biden announced that Federal Reserve Chair Jerome Powell will keep his post.

In defense of his decision to keep a Trump appointee, Biden said that during these precarious economic times, the Federal Reserve needs "stability and independence." The nomination comes in the face of calls from progressives to replace Powell with Lael Brainard who will serve as the vice chair of the Federal Reserve and is seen as tough on bank regulation and climate change.

Biden’s move can be read as another attempt to return to normalcy in Washington after the Trump administration. In the years before former President Donald Trump replaced Janet Yellen with Powell in 2018, presidents typically held onto the federal reserve chair of the prior president in an effort not to roil the markets.

The RUNDOWN with Alisa Wiersema

This year's holiday season feels like a return to normal for many families, but the potential risks associated with COVID-19 remain a looming factor as Americans make Thanksgiving plans.

Ahead of Thanksgiving travel hitting its peak this week, the Biden administration says a federal vaccine mandate won’t impact holiday travel.

The White House says 95% of employees total are "in compliance" with the federal vaccine mandate, including 93% at the Transportation Security Administration. But this characterization does not mean that all those employees are fully vaccinated. As reported by ABC's Anne Flaherty, that assessment covers several areas of categorization -- including employees who have either received their first vaccination dose or requested an exemption or extension for receiving the vaccine.

It is unclear how many workers in critical jobs such as border patrol, prisons and airport security have sought medical or religious exemptions. Agencies have also yet to publicly determine when employees who refuse to follow the vaccine mandate will run out of options or face termination.

The White House Office of Management and Budget is expected to release more details pertaining to this data on Wednesday, including a breakdown of vaccination rates by agency.

The TIP with Meg Cunningham

Georgia Rep. Lucy McBath, a Democrat, announced her intention to run for a neighboring congressional district after the Republican-led redistricting process drew her current district into solid red territory.

McBath will now run in Georgia's 7th Congressional District, likely setting up an intra-party primary between her and first-term Rep. Carolyn Bordeaux in what will now be a safe blue district. Bordeaux previously indicated that she would seek another term, saying that she'd "be a voice for everyone in this new district."

McBath said she would not let Republicans take away her opportunity to keep fighting for her constituents.

"As a Black woman, too often I’ve been told to stand down. I refuse to let our voices be silenced in Congress. And people in that district need a voice," McBath said. "It’s not about power to me. It’s about keeping promises."

THE PLAYLIST

ABC News' "Start Here" Podcast.

Tuesday morning’s episode begins with scenes from the deadly parade crash in Waukesha, Wisconsin, where ABC News' Alex Perez has been on the ground speaking to witnesses about the tragedy. Then, ABC News' Derricke Dennis reports from Brunswick, Georgia, on closing arguments in the trial of three men accused of murdering Ahmaud Arbery. And, nonpartisan election officials across the country are sounding the alarm about a wave of threats against them and their families in the wake of 2020. ABC News' Elizabeth Schulze interviews workers who have quit their jobs, fearing for their safety. http://apple.co/2HPocUL

WHAT YOU NEED TO KNOW TODAY

  • At 2 p.m., President Joe Biden will give remarks on the economy and "lowering prices for the American people." At 4 p.m., he and first lady Jill Biden will continue their Thanksgiving service events, this time joined by the vice president and second gentleman at a D.C. food kitchen. The Bidens will then head directly to Joint Base Andrews, where they will hop on Air Force One for a flight to Nantucket, Massachusetts, where they will spend their Thanksgiving holiday.
  • White House press secretary Jen Psaki gives a press briefing at 3:15 p.m.
  • At 10:15 a.m., Secretary of State Antony Blinken holds a photo op with New Zealand foreign minister Nanaia Mahuta.
  • At 8:15 a.m., the Senate convenes for a pro forma session. The House of Representatives convenes for a pro forma session at 11 a.m.
  • The State Department holds a press briefing at 3:30 p.m.
  • Political commentator Kristen Soltis Anderson guest co-hosts "The View" on ABC at 11 a.m.

    • Download the ABC News app and select "The Note" as an item of interest to receive the day's sharpest political analysis.

    The Note is a daily ABC News feature that highlights the day's top stories in politics. Please check back tomorrow for the latest.