President Biden welcomes the lowering of interest rates by the Federal Reserve. In a speech to the Economic Club of Washington, DC, the president said Wednesday’s half-point cut by the Fed sends an “important signal.” But he acknowledged there’s “more to do” to keep lowering prices. Inflation, which rose to a four-decade high during the […]
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Biden says interest rate cut sends “important signal” on inflation
President Biden welcomes the lowering of interest rates by the Federal Reserve. In a speech to the Economic Club of Washington, DC, the president said Wednesday’s half-point cut by the Fed sends an “important signal.” But he acknowledged there’s “more to do” to keep lowering prices. Inflation, which rose to a four-decade high during the Biden administration, has come down to an annual rate of 2 and-a-half percent.