September 18th, 2024.

Today at a White House reception in celebration of Hispanic Heritage Month,

President Joe Biden said,

we don't demonize immigrants.

We don't single them out for attacks.

We don't believe they're poisoning the blood of the

country. We're a nation of immigrants and that's why we're so damn strong.

Biden's celebration of the country's heritage might have doubled as a celebration of the success of his approach to piloting the economy out of the ravages of the pandemic.

Today the Fed cut interest rates a half a point, a dramatic cut indicating that it considers

inflation to be under control.

Treasury Secretary Janet Yellen has maintained that it would be possible to slow inflation without causing a recession,

a so-called soft landing, and she appears to have been vindicated.

Federal Reserve Chief Jerome Powell said,

The labor market is in solid condition,

and our intention with our policy move today is to keep it there.

You can say that about the whole economy. The US economy is in good shape.

It's growing at a solid pace. Inflation is coming down.

The labor market is at a strong pace. We want to keep it there. That's what we're doing.

Powell, whom Trump first appointed to his position, said,

we do our work to serve all Americans.

We're not serving any politician, any political figure,

any cause, any issue, nothing.

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