Council of Economic Advisers

Trump announced that Pierre Yared, head of the Council of Economic Advisers, is leaving. The Council has provided economic policy advice to the president since 1946.

Alan Greenspan, who died at 100, is best known for his 18-year tenure at the Federal Reserve. He also served as chair of the Council of Economic Advisers under President Gerald Ford from 1974-77, an experience that shaped his public service career. The article highlights his early life as a musician and his association with Ayn Rand before his economics career.

President Donald Trump attributed a drop in car insurance premiums to his immigration policies, falsely linking prior increases to illegal immigration under the Biden administration. Experts counter that the premium changes were primarily driven by the COVID-19 pandemic's impact on driving behavior and supply chains, not immigration.

Kevin Warsh has been confirmed by the Senate as the next Federal Reserve chair but must complete final procedural steps including presidential approval and divestment of over $100 million in assets before being sworn in. Stephen Miran resigned from his temporary position at the Federal Reserve, while Christopher Phelan was tapped to fill Miran's previous role at the Council of Economic Advisers.

The Trump administration released a report on its drug pricing policy, claiming huge future savings from the program, with an estimated $529 billion in savings over the coming decade. The report defines 'most-favored nation' pricing, a key aspect of the administration's deals with pharmaceutical companies. However, many details of the deals remain private and their impacts for consumers are uncertain.

The U.S. faces a 10 million housing shortage according to a White House report, which proposes regulatory cuts to boost construction and stabilize prices. The report aims to address economic and political challenges, including President Trump's low approval ratings and rising mortgage costs due to inflation and global conflicts.