On September 20, US President Biden discussed the ongoing efforts to combat inflation and the potential for further reductions in interest rates. He emphasized that lowering borrowing costs is crucial for economic growth and noted that the Federal Reserve's recent rate cuts signify a new phase in economic recovery. Biden also expressed his respect for the Fed's independence and confirmed that he has not discussed interest rates with Fed Chairman Powell since his tenure began.
On September 20, US President Biden discussed the ongoing efforts to combat inflation and the potential for further reductions in interest rates. He emphasized that lowering borrowing costs is crucial for economic growth and noted that the Federal Reserve's recent rate cuts signify a new phase in economic recovery. Biden also expressed his respect for the Fed's independence and confirmed that he has not discussed interest rates with Fed Chairman Powell since his tenure began.