Biden Criticizes Trump's Economic Policies and Hails Interest Rate Cuts

President Joe Biden hailed the Federal Reserve's recent interest rate cuts as a signal of easing inflation and economic progress. He criticized former President Donald Trump's economic policies, anticipating their failure if implemented again. Biden also highlighted job creation and trade benefits under his administration.

President Joe Biden praised the Federal Reserve's decision to lower interest rates on Thursday, calling it "an important signal" that inflation is easing. At the Economic Club of Washington, DC, Biden used the opportunity to criticize Donald Trump's past and proposed economic policies, predicting they would fail if revived.

Biden emphasized that the lowering of interest rates is not a victory declaration but rather a sign of economic progress and recovery. He argued that more work is needed, but he also sought to highlight his economic achievements, accusing Trump of favoring policies that disproportionately benefit the wealthy.

The president pointed out that Trump's economic record was negatively impacted by his handling of the coronavirus pandemic. Biden expressed hope that the interest rate cut will make housing and car purchases more affordable and urged businesses to capitalize on current opportunities for growth and investment.

(With inputs from agencies.)