President Biden Says Inflation Data May Delay Interest Rate Cuts
Speaking to the nation today, US President Joe Biden said that March’s inflation report may delay interest rate cuts. Indeed, Biden noted that the inflation data reporting an increase to 3.5%, higher than expectations, will likely have an impact on the Federal Reserve’s decision-making process for the year. Biden noted that he is currently unaware of the Central Bank’s plans regarding interest rate cuts. However, he did assure the public that there would be cuts taking place before the end of the year. Alternatively, Fed Chair Jerome Powell previously said that the country could expect three interest rate cuts before the conclusion of 2024. JUST IN: President Joe Biden says today's rising inflation report may delay interest rate cuts. — Watcher.Guru (@WatcherGuru) April 10, 2024 Also Read: US Inflation Rises to 3.5%, Higher Than Expectations Joe Biden Says Inflation May Delay Interest Rate Cuts Over the last several years, increasing...