The US President indicated in a post on the “X” platform, on Thursday, that he inherited the worst economic crisis the United States has witnessed since the Great Depression four years ago, according to his expression.
“Now inflation and interest rates are starting to come down,” he added.
He said Biden“There is still more work to be done. I will talk soon about our work to reduce costs and grow our economy.”
The US President’s statements come one day after the decision US Federal Reserve By cutting interest rates in the world’s largest economy by 50 basis points, indicating the start of monetary easing, and that the Federal Reserve succeeded in curbing the rise in inflation.
For his part, the Republican candidate for the US presidential election accused Donald Trump The central bank was “politicized” on Wednesday, after the monetary authority cut interest rates sharply just weeks before the Nov. 5 presidential election.
“Such a big cut shows either the economy is in very bad shape or they’re playing political games,” the former Republican president told reporters on the sidelines of a campaign trip.
On Wednesday, the US Federal Reserve cut its interest rate for the first time since 2020, by half a percentage point, to a range of between 4.75 and 5 percent.
