President Joe Biden will target the Economic Club of Washington, D. C., at 1: 15 p. m. ET on the progress made in fighting prices.
Biden’s remarks come a day after the Federal Reserve cut interest rates by half a place, indicating that the Fed’s fight against inflation is about to stop. The new federal funds rate is 4.75 % to 5 %.
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Biden’s speech may also address the ongoing efforts to reduce costs.
In August, the consumer price index fell to 2.5 %. The consumer price index should fall to 2 %, according to the Fed.
