BREAKING NEWS

White House: Closely monitoring situation in Red Sea; not seeing big impact on holiday products

U.S. President Joe Biden's national security team does not expect the diversion of vessels from the Suez Canal to affect the availability of holiday products, his top economic adviser said on Friday.

Lael Brainard, director of the White House National Economic Council, told reporters that the U.S. economy was proving resilient, with inflation having come down faster than even the more optimistic forecasts had indicated and growth remaining solid.