Biden touts rate cuts but says 'not a declaration of victory'

President makes case for economic vision and importance of CHIPS act as term nears end

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U.S. President Joe Biden addresses the Economic Club of Washington D.C. © Reuters

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- President Joe Biden touted the Federal Reserve interest rate cuts as a major milestone in the fight against inflation and marker of success for his economic agenda as he nears the end of a term plagued by increasing prices despite strong growth.

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