President Joe Biden said the job of fighting inflation was not done; that lowering borrowing costs would help growth; that interest rates were expected to fall further; that the Fed's rate cut signaled a new phase in the economy and recovery; and that he respected the independence of the Fed, which he has not spoken to since entering the White House.
President Joe Biden said the PCE report shows progress, but prices remain too high.
On July 12, US President Biden said on the social media platform "X" that Israel and Hamas had agreed to a ceasefire framework.