Biden Comments On Inflation And Economic Growth

According to PANews, U.S. President Joe Biden stated that efforts to combat inflation are not yet complete. He emphasized that reducing borrowing costs would aid economic growth and anticipated that interest rates would continue to decline. Biden noted that the Federal Reserve's decision to lower interest rates indicates that the economy and recovery are entering a new phase. He also expressed his respect for the Federal Reserve's independence. Since taking office, Biden mentioned that he has not spoken with Federal Reserve Chairman Jerome Powell.