{"id":1490907,"date":"2024-09-19T17:10:00","date_gmt":"2024-09-19T21:10:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1490907"},"modified":"2024-09-19T17:10:00","modified_gmt":"2024-09-19T21:10:00","slug":"watch-live-president-biden-delivers-remarks-about-the-post-fed-crisis-rate-cut-economy","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/watch-live-president-biden-delivers-remarks-about-the-post-fed-crisis-rate-cut-economy\/1490907\/","title":{"rendered":"Watch Live: ‘President’ Biden Delivers Remarks About The (Post-Fed-Crisis-Rate-Cut) Economy"},"content":{"rendered":"

Watch Live: ‘President’ Biden Delivers Remarks About The (Post-Fed-Crisis-Rate-Cut) Economy<\/span><\/p>\n

\n

Everything is so awesome under Bidenomics that The Fed needed to slash rates by 50bps yesterday to ‘sustain the economy’…?<\/em><\/p>\n

And this afternoon, ‘President’ Biden will be dragged off the beach, juiced up with Adderall, and face the teleprompters to tell the American public just how lucky they are that the cost of living is still rising and wage growth is slowing…<\/p>\n

<\/a><\/p>\n

Biden will address business executives on Thursday at a lunch hosted by the Economic Club of Washington, D.C., where he is anticipated to highlight his economic policies.<\/p>\n

As Emel Akan reports via The Epoch Times,<\/a> during the event, Biden is expected to tout progress made since taking office, including the United States\u2019 response to the pandemic, and will blame the rise in inflation on Russia\u2019s invasion of Ukraine.<\/p>\n

\u201cPresident Biden is going to speak to a new milestone, inflation and interest rates are falling at the same time, employment, wages, and GDP are rising,\u201d <\/strong>White House Chief of Staff Jeff Zients told reporters during a call on Wednesday. <\/em><\/p>\n

\u201cI want to be really clear, this is not meant to be a declaration of victory. It\u2019s meant to be a declaration of progress, significant progress.\u201d<\/em><\/strong><\/p>\n

The Federal Reserve slashed<\/a> interest rates on Wednesday, kicking off its first easing campaign since the pandemic.<\/p>\n

The central bank policymakers lowered the benchmark federal funds rate by 50 basis points to a range of 4.75 percent to 5 percent following its policy meeting on Sept. 18.<\/p>\n

Fed policymakers said in their statement that they have \u201cgained greater confidence\u201d in bringing inflation down<\/strong> and hence anticipate another 50-basis-point cut in interest rates this year.<\/p>\n

Biden welcomed the announcement on social media<\/a> platform X on Wednesday.<\/p>\n

\u201cThe critics said it couldn\u2019t happen\u2014but our policies are lowering costs and creating jobs,\u201d <\/strong>Biden said. <\/em><\/p>\n

\u201cI’ll speak tomorrow about what this means for Americans.\u201d<\/em><\/strong><\/p>\n

The Fed\u2019s move to lower rates for the first time in four years is important for consumers as it influences interest rates on credit cards, auto loans, mortgages, and other financial products, as well as savings accounts.<\/p>\n

National economic adviser Lael Brainard also talked about the progress made during the call with reporters, stating that the Fed\u2019s decision is a \u201cclear signal that inflation has come back down.\u201d<\/p>\n

\u201cThe focus now has to be on sustaining the gains we\u2019ve seen,\u201d<\/strong><\/em> she said.<\/p>\n

Brainard, however, noted that more work was required to improve labor force participation and bring down costs, notably housing prices, by developing millions of new affordable homes.<\/p>\n

The central bank\u2019s decision to sharply lower interest rates just ahead of November\u2019s presidential election, however, met with some criticism from Republicans, including former President Donald Trump.<\/p>\n

\u201cI guess it shows the economy is very bad, to cut it by that much, assuming they\u2019re not just playing politics,\u201d <\/strong><\/em>Trump, the Republican presidential nominee, told reporters during a visit to a New York City bar on Wednesday.<\/p>\n

\u201cThe economy would be very bad, or they\u2019re playing politics. But it was a big cut.\u201d<\/strong><\/em><\/p>\n

Sen. Tommy\u00a0Tuberville\u00a0(R-Ala.) also reacted to the Fed\u2019s decision.<\/p>\n

\u201cThe Fed\u2019s drastic rate cut is so shamelessly political,\u201d<\/strong><\/em> Tuberville wrote<\/a>\u00a0in a post on X.<\/p>\n

\u201cOur nation\u2019s central bank has no business moving rates this close to an election and is clearly trying to tip the balance in favor of Kamala Harris.\u201d<\/em><\/p>\n

Watch President Biden speak in public here (due to start at 1315ET):<\/p>\n<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 09\/19\/2024 – 13:10<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/political\/watch-live-president-biden-delivers-remarks-about-post-fed-crisis-rate-cut-economy<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Watch Live: ‘President’ Biden Delivers Remarks About The (Post-Fed-Crisis-Rate-Cut) Economy Everything is so awesome under Bidenomics that The Fed needed to slash rates by 50bps…<\/p>\n","protected":false},"author":0,"featured_media":1490908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1490907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6fQT","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/09\/Untitled2028229_2-J2wg1w.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1490907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1490907"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1490907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1490908"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1490907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1490907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1490907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}