Biden's Economic Warning: Trickle-down Troubles Loom

In what might be his final speech on the economy, U.S. President Joe Biden will warn against further tax cuts for the wealthy and Republican economic policies. He will argue that his administration's investment in infrastructure and job creation has fostered economic growth and reduced unemployment significantly.

In a significant move, U.S. President Joe Biden is set to issue a stern warning against further tax cuts for the wealthy, critiquing Republican economic strategies. This warning comes as Biden prepares to deliver what could be his final major speech on economic policies on Tuesday, a White House official disclosed.

With the speech, Biden aims to highlight the economic achievements during his term, citing investments in infrastructure and job creation as central to averting deeper economic crises. The President plans to address the iconic Brookings Institution, underscoring a creation of 16 million jobs and the lowest unemployment rates in decades.

Despite these gains, recent election results saw Republicans reclaiming power, reflecting voter concerns over inflation. While Trump's anticipated return could fuel investment banking activities, economic experts caution that proposed high tariffs and tax cuts could worsen inflation and increase the national deficit.

(With inputs from agencies.)