After Fed Cuts Rates, Biden Will Claim Credit for Economy’s Strength

Published On Sep 19, 2024, 5:06 AM

In his upcoming speech, President Biden will discuss the economy's progress, highlighting falling inflation and borrowing costs, as well as increased real incomes for Americans. However, he will refrain from claiming victory over inflation and will instead emphasize that more work is needed to alleviate the costs of essential goods. The Federal Reserve has recently cut interest rates, which may further support economic recovery.

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Stock Forecasts

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With recent interest rate cuts and falling inflation, consumer spending could rise, positively impacting retail and housing sectors. Investors may consider sectors benefiting from increased disposable income and lower borrowing costs.

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The lower interest rates may boost the housing market, which has been adjusting to high mortgage rates. Companies in the real estate and construction sectors could see improvements in demand as mortgage costs decrease.

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