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Biden admits economic recovery still needs ‘work,’ forgets meeting Fed chair in error-laden speech
Posted
September 20, 2024
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0:31Now PlayingPresident Biden confessed Thursday that there’s “a hell of a lot more work to do” to tame inflation and boost the economy — as he delivered an error-ridden speech including a false claim that he hadn’t met Federal Reserve chairman Jerome Powell.
“Inflation was 9.1% [in June 2022]. The United States today is much closer to 2%. It doesn’t mean our work is done — far from it,” Biden told the Economic Club of Washington.
“No one should confuse why I’m here. I’m not here to take a victory lap. I’m not here to say the job well done. I’m not here to say we don’t have a hell of a lot more work to do.”
The 81-year-old president spoke one day after the Federal Reserve decided to cut interest rates by half a percent — after the annual inflation rate declined to 2.5% in August.
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