On Thursday, Joe Biden addressed the Economic Club of Washington, D.C., celebrating what he called a booming economy following a recent interest rate cut by the Federal Reserve.
Biden highlighted the Fed’s decision to slash interest rates by 50 basis points, the largest reduction since 2008.
Critics, however, see the move differently.
Former Trump economic advisor Steve Moore called the aggressive rate cut “election interference,” suggesting it was timed to boost Kamala Harris ahead of the upcoming election.
WATCH:
Moore: I was in favor of a quarter percentage point reduction in interest rates.. But to do this 50 basis point reduction… I think this looks like political interference pic.twitter.com/pIOoF1sP6E
— Acyn (@Acyn) September 19, 2024
During his remarks, Biden also took a jab at Donald Trump’s past criticisms of Federal Reserve Chairman Jerome Powell, while emphasizing his own respect for the Fed’s independence.
“And by the way, I have never once spoken to the Chairman of the Fed since I became president,” Biden remarked, underscoring his hands-off approach to Powell’s decision-making.
WATCH:
Biden says he has not spoken to Federal Reserve chair Powell since he became President😂🤣😂🤣😂🤣
Our country is a joke right now. pic.twitter.com/hiyV9InjvK
— Spitfire (@DogRightGirl) September 19, 2024
Here’s Joe Biden meeting with Jerome Powell in the Oval Office:
Biden has said the independence of the Fed is "critical" and "I never once spoke to the Chairman since I became President."
Here he is, speaking to Chairman Powell: pic.twitter.com/V3Itd8wbwV
— unusual_whales (@unusual_whales) September 19, 2024
HE’S SHOT!
