Biden Says Jobs Numbers Should Deter More Fed Rate Hikes
- Jobs report ‘sweet spot’ needed for steady growth, Biden says
- Presidents have been wary of commenting on Fed policy making
Joe Biden speaks in Las Vegas on Dec. 8.
Photographer: Andrew Caballero-Reynolds/AFP/Getty ImagesThis article is for subscribers only.
President Joe Biden said Friday’s jobs report shows the labor market remains resilient as inflation continues to ease, an economic “sweet spot” that he said shouldn’t prompt the Federal Reserve to raise rates further.
The comments marked a rare example of Biden weighing in on central bank policy making. They came as the president gears up for a reelection campaign that will be decided in part on his stewardship of the US economy, which voters have rated poorly, polls show.