US President Biden: Expects Interest Rates to Decline Further
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September 20, 2024
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In a statement on September 20, US President Biden said the fight against inflation is not over. Lowering borrowing costs would help economic growth and further interest rate cuts are expected. The Fed's rate cut indicates that the economy and recovery are entering a new phase. He respects the Fed's independence and has not discussed interest rates with Fed Chair Powell since taking office.
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