In remarks on Thursday at the Economic Club of Washington, D.C., President Joe Biden will celebrate the progress of the American economy, but stop short of declaring victory, senior advisors told ABC News on a call previewing the remarks.
Biden said in a post on X, formerly known as Twitter, that he will speak about what the first key rate cut since 2020 and falling inflation "means for Americans."
"President Biden is going to speak to a new milestone, inflation and interest rates are falling at the same time, employment, wages and GDP are rising," White House Chief of Staff Jeff Zients told reporters. "I want to be really clear, this is not meant to be a declaration of victory. It's meant to be a declaration of progress, significant progress. The President believes it's important to mark this moment for the country by laying out how far we've come, while also outlining the work we still have to do."
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