Reported 19 days ago
President Biden's declaration of a new phase in the U.S. economy comes as the Federal Reserve initiates rate cuts. Jared Bernstein, chair of the White House Council of Economic Advisers, highlights a solid job market with low unemployment at 4.2%, alongside strong GDP growth and consumer spending. Although public perception of the economy remains mixed, Bernstein emphasizes that under the current administration, inflation has decreased while the economy has become unexpectedly robust.
Source: YAHOO