White House says it sees a path to approval of Pacific trade deal

The White House said on Monday it could still win congressional approval of the Trans-Pacific Partnership trade pact before President Barack Obama leaves office, and warned that failing to do so would undermine U.S. leadership in the region. “The president is going to make a strong case that we have made progress and there is a path for us to get this done before the president leaves office,” White House spokesman Josh Earnest told a news briefing ahead of Obama's trip to Asia this week. Obama has made the 12-nation free trade deal the centerpiece of a diplomatic “pivot” to Asia, but the prospects for congressional approval have looked increasingly dim, with both major presidential candidates – Democrat Hillary Clinton and Republican Donald Trump – standing opposed.

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White House says it sees a path to approval of Pacific trade deal

White House threatens veto of rule-based monetary policy bill

By Jason Lange WASHINGTON (Reuters) – The White House on Tuesday issued a veto threat for a Republican-backed bill to make the Federal Reserve set interest rate policy using a mathematical rule, a proposal Fed Chair Janet Yellen said would “severely damage” the U.S. economy. The Obama administration opposes the proposal because it would hinder the Fed's ability to help the economy, the White House said in a statement. Lawmakers in the U.S. House of Representatives cleared the way on Tuesday for vote on the bill, called the Fed Oversight Reform and Modernization Act, as soon as Wednesday.

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White House threatens veto of rule-based monetary policy bill