Pool Reports of July 28, 2022

In-town pool report #1

Good morning. I'm your in-town pooler for today. The White House sends this note on President's Biden call with Pres. Xi this morning:

President Biden will speak with President Xi Jinping of the People’s Republic of China at 8:30 am this morning. This is the 5th call between the 2 leaders since President Biden took office. Readout to come after the call.

In-town pool report #2

The White House sends this update on the president's call with President Xi this morning:

President Biden’s call with President Xi Jinping of the People’s Republic of China (PRC) started at 8:33 am ET.

In-town pool report #3

We have an update to the schedule:

UPDATE:

In the afternoon, the President will deliver remarks on the Inflation Reduction Act of 2022. These remarks in the State Dining Room will be open to pre-credentialed media. [RSVP Here] by 10:30 AM]

EDT

11:00 AM In-Town Pool Call Time

12:00 PM THE PRESIDENT delivers remarks on the Inflation Reduction Act of 2022
State Dining Room
Pre-Credentialed Media (Gather 11:50 AM – Palm Room Doors) [RSVP Here by 10:30 AM]

In-town pool report #4

From the White House:

President Biden concluded his conversation with President Xi Jinping of the People’s Republic of China (PRC) at 10:50 am ET

In-town pool report #5 - delayed POTUS remarks

Update on POTUS's scheduled remarks from the White House:

POTUS Remarks will now began at 12:30, please plan to gather at 12:20.

In-town pool report #6 - 2 min warning

Two-minute warning on POTUS remarks. The event will be live streamed here: https://www.whitehouse.gov/live/

In-town pool report #7 - POTUS remarks begin

POTUS entered at 12:57 pm and removed his mask before speaking.

In-town pool report #8 - POTUS remarks conclude

POTUS, dressed in a navy suit and blue tie, concluded his remarks at 1:10 pm. He ignored shouted questions.

Some quotes from the speech, but please check against the transcript. Biden also addressed the GDP, some snippets of that toward the bottom of this email. The event was live streamed.

Quotes:

"Simply put, the bill will lower health care costs for millions of Americans and will be ... the most important investment" in clean energy

"This bill will fight inflation."

"This investment in environmental justice is real."

"Let me be clear: this bill would be the most significant legislation in history to tackle the climate crisis."

"This legislation will bring down the deficit. Bring down the deficit."

"With this legislation, we're facing up to some of our biggest problems as a nation."

"This bill is far from perfect. It's a compromise. But it's often how progress is made."

"Pass it. Pass it for the American people. Pass it for America."

On the GDP:

"Both Chairman Powell and many of the significant banking personnel and economists say we're not in a recession. ... we have a record job market, record unemployment. We've created 9 million new jobs." Noted foreign businesses are investing in the U.S. and the rebound. Added the CHIPS bill would help.

"That doesn't sound like a recession to me," Biden concluded his remarks.

In-town pool report #9 - lunch lid

The White House called a lunch lid until 2 pm.

In-town pool report #10 - delayed press briefing

From the White House:

Given interest in in the President’s call with President Xi, the press briefing is moving until after the NSC background call wraps, tentatively around 3:30pm.

In-town pool report #11 - gather

Gather happening now for in-town and pre-credentialed press for POTUS CEO Meeting

In-town pool report #12

Some details from the White House ahead of POTUS event on economy and business roundtable. The event will be live streamed here: https://www.whitehouse.gov/live/

From the White House:

The President will deliver remarks on the economy and meets with CEOs to receive an update on economic conditions across key sectors and industries. Participating in the meeting:

Administration Participants

• Brian Deese, Director of the National Economic Council
• Secretary Janet Yellen, U.S. Department of Treasury
• Secretary Gina Raimondo, U.S. Department of Commerce
• Chair Cecilia Rouse, Council of Economic Advisers

In-person

• Wendell Weeks, CEO, Corning
• Anthony "Tony" Capuano, CEO, Marriott International

Remote

• Brian Moynihan, CEO, Bank of America
• Thasunda Brown Duckett, CEO, TIAA
• Punit Renjen, CEO, Deloitte

In-town pool report #13 - POTUS event begins

Janet Yellen, Gina Raimando and Cecilia Rouse entered at 2:33 pm. Your pooler did not have a very good view so it was hard to see everyone else enter.

POTUS entered a few minutes later at 2:37 pm. He wore a mask and shook hands with several participants before sitting down. He removed his mask before making his opening remarks.

Reminder the event will be live streamed here: https://www.whitehouse.gov/live/

In-town pool report #14 - update on NSC briefing

From the White House: The NSC background call will now begin after the President’s event. After the end of the NSC background call, the press briefing will start.

In-town pool report #15 - POTUS roundtable

Biden began with opening remarks. He then asked a question of Brian Moynihan, Bank of America CEO, who participated remotely.

Biden then asked a question of the Marriott CEO, Anthony "Tony" Capuano, who attended in person.

He then asked Wendell Weeks, CEO of Corning, about the manufacturing outlook.

Biden received a note at about 3:01 pm with an update on the CHIPS bill in the House. His note said there were 217 votes (the note appeared to be a couple minutes behind). "The House has passed it," Biden said to applause. The vote was still ongoing, but there were enough votes to pass the bill.

Press was then ushered out at 3:10 pm. POTUS ignored shouted questions and the event continued.

A couple quotes from POTUS opening remarks. Please check against the transcript. Reminder that the event was livestreamed.

Quotes from opening remarks:

"I want to say two things about the GDP report we received this morning. It's important to start with what we know before this morning. The job market remains historically strong. ... The economy created more than 1 million jobs in the second quarter, the same period the GDP report covers." Biden ticked off a few other measures speaking to the strength of the economy.

"There's going to be a lot of chatter today on Wall Street and among pundits about whether we're in a recession. ... We signs of economic progress in the second quarter as well." Added Powell made it clear he does not think the U.S. is in a recession.

In-town pool report #16 - NSC briefing 3:25 pm

The NSC briefing is now scheduled for 3:25 pm. The White House briefing will begin once that call concludes.

In-town pool report #17 - two-min warning to briefing

Two-minute briefing for the press briefing. Live stream here: https://www.youtube.com/watch?v=FP3tLruE6tc&ab_channel=TheWhiteHouse

In-town pool report #18 - briefing underway

Live stream here: https://www.youtube.com/watch?v=FP3tLruE6tc&ab_channel=TheWhiteHouse

In-town pool report #19 - briefing ends

The briefing ended at 5:10 pm