Biden Hails Fed Rate Cut, Seeking to Boost Confidence in Economy
- President’s speech aims to burnish legacy, bolster Harris
- Rubenstein hosts president at Economic Club of Washington
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President Joe Biden said businesses and consumers should feel greater confidence in the economy a day after the Federal Reserve slashed interest rates — and that he expected rates to go down further — as he sought to burnish his economic legacy and bolster the candidacy of Vice President Kamala Harris against Republican Donald Trump.
Biden cast the Fed’s decision to lower rates as a vindication of his stewardship of the nation’s post-pandemic economic recovery and a sign of progress in the fight against high inflation that has been one of his — and Harris’ — biggest political liabilities.