International

Biden holds intensive talks with Democrats on saving his agenda

AFP

President Joe Biden held intensive talks with competing factions of his Democratic party Tuesday in an attempt to save his agenda in Congress before time runs out.

After weeks of stalemate between the leftist and more conservative wings of the party over the cost and scope of his plans to expand the social safety net, Biden is ramping up the pace.

“Today he is spending virtually, literally every minute of his day meeting with members of Congress and I think that’s a reflection of how urgent he feels,” White House Press Secretary Jen Psaki told reporters.

“Our effort is on continuing to make progress,” she said. “We’re getting close to the final stages here. We’re working to getting agreement.”

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Biden met with two key Democratic senators — Joe Manchin and Kyrsten Sinema — whose opposition to the $3.5 trillion price tag on his social spending bill amounts to a veto, given that Democrats need unanimity to get anything through the evenly split Senate.

He was also meeting with groups of left-leaning and moderate Democratic lawmakers in two separate meetings. On Wednesday, he will give a speech to promote his plans in Scranton, the blue collar Pennsylvania city where he spent part of his childhood.

Manchin has said he will only agree to $1.5 trillion for the social spending bill, which Biden says would address fundamental inequalities through expansion of free education and child care.

Worried about the fate of that bill, a powerful leftist faction in the House of Representatives has responded by blocking passage of a separate $1.2 trillion bill for improving US infrastructure that most Democrats and also a significant number of Republicans want to see passed.

While the two sides are publicly still at loggerheads, threatening to leave the bulk of Biden’s domestic agenda in ruins, Psaki was optimistic.

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“Our goal is to make progress and based on the morning meetings and our expectation of the afternoon meetings, we expect they will do exactly that,” she said.

“We’ve had months to consider, debate, litigate,” she said. “It will come time soon to move forward and deliver for the American people.”

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.