Fed made 'declaration of progress' with interest rate cut, says Biden

Quick Summary:

President Joe Biden said on Thursday the Federal Reserve's decision to lower interest rates was an important signal that inflation has eased as he poked at Donald Trump's economic policies as a failure in the past and sure to fail again if revived.

The Democratic president emphasised that there was more work left to do, but he used his speech to burnish his economic legacy even as he criticised Trump, his Republican predecessor who is running for another term.

Lowering interest rates isn't a declaration of victory," Biden told the Economic Club of Washington, DC.

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Article Details

Category: BusinessFinance

Markets: IndiaChina

Topics: Rate cuts Biden US fed reserve US Fed Joe Biden Federal reserve

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-20 @ 07:22:20 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 506 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22613525

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Official Website: business-standard.com

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Year Established: 1975

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