The president said he was not declaring victory over inflation, but marking a pivot point for the recovery from pandemic recession.

President Joe Biden said the Federal Reserve‘s rate cut is “important” but only the first step during a speech before the Economic Club of Washington, D.C. “It doesn’t mean our work is done,” Biden said.

President 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