Biden Praises Fed’s Interest Rate Policy as ‘Positive Thing’


President-elect Joe Biden on Thursday praised the Federal Reserve’s handling of interest rates, saying it has been “a positive thing” that can lead to future growth.

“The way the Federal Reserve has been dealing with the dollar I think has been in a positive direction,” he told reporters in Wilmington, Delaware. “Interest rates are as low as they have been in modern history, I think that is a positive thing.”

The Fed’s approach, he said, “lends credence to the possibility of us being able to spend the money in order to generate economic growth right off the bat.”

President Donald Trump has repeatedly criticized the Fed, and chairman Jerome Powell, for not cutting interest rates faster and further.

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